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<21013688.1075844564560.JavaMail.evans@thyme>
|
Re: Credit Derivatives
|
[
"[email protected]"
] |
[] |
[] | 2000-08-29T08:26:00Z
|
Bill: Thanks for the info. I also spoke with Jeff about how
EnronCredit.com Ltd. was going to work since Dennis O'Connell (London lawyer)
is responsible for that group. Maybe you will be able to clarify which of
Jeff's "positions" will be hedges and which will be backed to EnronCredit.
Maybe Rod will be handling most of Jeff's credit. I'd appreciate an update.
Sara
William S Bradford
08/29/2000 07:24 AM
To: Sara Shackleton/HOU/ECT@ECT
cc: Mark Taylor/HOU/ECT@ECT, Paul Radous/Corp/Enron@ENRON, Rod
Nelson/LON/ECT@ECT
Subject: Re: Credit Derivatives
Sara,
Please contact either Paul Radous or me on credit derivatives in the U.S.
Rod Nelson is the lead credit support for EnronCredit.com and should also be
available in London, if necessary. I am not aware of these recent trades but
I am having lunch with Jeff Kinneman on Thursday to discuss among other
things Credit support for his business.
It does concern me that we would offer to provide collateral DLJ without
Treasury's approval.
Bill
From: Sara Shackleton on 08/28/2000 06:53 PM
To: William S Bradford/HOU/ECT@ECT
cc: Mark Taylor/HOU/ECT@ECT
Subject: Credit Derivatives
I am seeing more and more credit derivatives. The trades originating in
Houston are coming from Jeff Kinneman's bond/debt traders but are booked in
the name of ECT Investments, Inc. or ENA. I can't be certain if these are
backed to EnronCredit.com Limited.
In particular, there is a proposed total return bond trade with DLJ
International Capital requiring ECT Investments to post collateral. We have
no master with this party. Who in Houston credit is looking at credit
derivatives?
FYI, other credit deals seem to be transacted wtih Deutsche Bank and UBS AG.
|
shackleton-s/sent/1912.
|
|
<22688499.1075854130303.JavaMail.evans@thyme>
|
Meter #1591 Lamay Gaslift
|
[
"[email protected]"
] |
[
"[email protected]"
] |
[
"[email protected]"
] | 2000-04-24T12:43:00Z
|
Aimee,
Please check meter #1591 Lamay gas lift. It doesn't appear to have very much
flow and the
BAV is showing the nom volume. This could be adversely affecting the risk
numbers. Pat
|
farmer-d/logistics/1066.
|
|
<27817771.1075841359502.JavaMail.evans@thyme>
|
Re: man night again?
|
[
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]"
] |
[] |
[] | 2002-05-02T11:54:27Z
|
GCCA Crawfish and rip-off raffle & over-priced print extravaganza tonight at approx
6-6:30pm. Pig and I and ?? and ?? will be there to be overserved and underfed.
I've got my checkbook and wobbly boot ready to go!!
C.
----- Original Message -----
From: Fenner, Chet
Sent: Thursday, May 02, 2002 9:18 AM
To: 'Parks, Joe'; Fenner, Chet; chad knipe; Brian Constantine; EriK Wollam; Brad Corrier; [email protected]; [email protected]
Subject: RE: man night again?
Nothin'.
-----Original Message-----
From: Parks, Joe [mailto:[email protected]]
Sent: Thursday, May 02, 2002 7:59 AM
To: Fenner, Chet; chad knipe; Brian Constantine; EriK Wollam; Brad Corrier; [email protected]; [email protected]
Subject: RE: man night again?
what are you guys talking about?
-----Original Message-----
From: Fenner, Chet [mailto:[email protected]]
Sent: Thursday, May 02, 2002 6:43 AM
To: 'chad knipe'; Fenner, Chet; Brian Constantine; EriK Wollam; Brad Corrier; [email protected]; Parks, Joe; [email protected]
Subject: RE: man night again?
Screw it, I'm going to Tony's.
-----Original Message-----
From: chad knipe [mailto:[email protected]]
Sent: Wednesday, May 01, 2002 6:55 PM
To: Chet Fenner; Brian Constantine; EriK Wollam; Brad Corrier; [email protected]; [email protected]; [email protected]
Subject: Re: man night again?
what
----- Original Message -----
From: Fenner, Chet
Sent: Wednesday, May 01, 2002 3:01 PM
To: 'chad knipe'; Fenner, Chet; Brian Constantine; EriK Wollam; Brad Corrier; [email protected]; [email protected]; [email protected]
Subject: RE: man night again?
I feel like Erik. No one will answer my question.
-----Original Message-----
From: chad knipe [mailto:[email protected]]
Sent: Wednesday, May 01, 2002 2:49 PM
To: Chet Fenner; Brian Constantine; EriK Wollam; Brad Corrier; [email protected]; [email protected]; [email protected]
Subject: Re: man night again?
sh"IN" - dig.......get it? aaaaaaaaaaaaaaaahhhhhhhhhhhhhaaaaaaaaaaaaahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhaaaaaaaaaaaaaaaaaaaahhhhhhhhhhhh
----- Original Message -----
From: Fenner, Chet
Sent: Wednesday, May 01, 2002 5:11 PM
To: 'chad knipe'; Brian Constantine; EriK Wollam; Brad Corrier; Fenner, Chet; [email protected]; [email protected]; [email protected]
Subject: RE: man night again?
Where is this shin-dig?
-----Original Message-----
From: chad knipe [mailto:[email protected]]
Sent: Tuesday, April 30, 2002 6:23 AM
To: Brian Constantine; EriK Wollam; Brad Corrier; Chet Fenner; [email protected]; [email protected]; [email protected]
Subject: Re: man night again?
in.
----- Original Message -----
From: Brian Constantine
Sent: Tuesday, April 30, 2002 8:26 AM
To: Erik Wollam; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]
Subject: RE: man night again?
I am IN!!! Would like to be there by 6:30 or so...maybe later. Zander is "out"...unless he brings Jake. Someone forward to Chambers...you know he's in.
BC
-----Original Message-----
From: Erik Wollam [mailto:[email protected]]
Sent: Thursday, April 25, 2002 5:25 PM
To: [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; Brian Constantine; [email protected]
Subject: man night again?
Zero response from my last effort on this matter. Are your emails working
men?
Zander called and suggested we attend the CCA crawfish boil function to be
held Thurday May 2, 2002. Reasonably priced event, beer, mud bugs and we can
sit back and watch pig win raffle prizes.
I'm in
e.
_________________________________________________________________
Send and receive Hotmail on your mobile device: http://mobile.msn.com
************************************************************************
This e-mail is the property of Bridgeline Holdings, L.P. and/or its relevant affiliate(s) and may contain confidential and privileged material for the sole use of the intended recipient(s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Bridgeline Holdings, L.P. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you.
************************************************************************
|
parks-j/deleted_items/202.
|
|
<10695160.1075858510449.JavaMail.evans@thyme>
|
Enron 480, 1480 charges
|
[
"[email protected]"
] |
[] |
[] | 2001-08-08T21:35:08Z
|
<<Keoni.zip>> Chris, per your request here are the 480 and 1480 charges
that have been tracked to date for Enron. Please keep in mind that the
systems have not been built to incorporate this data into our Settlements
process so the normal validations built into our Settlements process are not
applied to the manual tracking of these charges. Therefore, this data should
not be considered Settlement quality. If these charges ever to become
effective the proper systems will be built to pull in this data into the
Settlement process.
I checked with some folks and found out that FERC should rule on this during
September.
Take care.
Keoni Almeida
California Independent System Operator
phone: 916/608-7053
pager: 916/814-7352
alpha page: [email protected]
e-mail: <mailto:[email protected]>
|
stokley-c/chris_stokley/iso/client_rep/41.
|
|
<27819143.1075853689038.JavaMail.evans@thyme>
|
Transport Deal
|
[
"[email protected]"
] |
[] |
[] | 2000-06-21T11:58:00Z
|
I'm trying to change the Receipt Meter on deal 235367 from meter 7126 to
meter 010902. I'm not trying to change the Receipt Interconnect point, I'm
trying to change the Receipt Point (From). I can't change it. Whats up?
|
germany-c/all_documents/1174.
|
|
<10142547.1075846737160.JavaMail.evans@thyme>
|
Re: WT-1 Electric Service Agreement
|
[
"[email protected]"
] |
[
"[email protected]"
] |
[
"[email protected]"
] | 2000-05-10T18:22:00Z
|
What if we replace Section 2 with something like "This Agreement shall
continue in effect unless and until terminated pursuant to Section 3," and
replace Section 3 with "Either Party may terminate this Agreement upon
written notice to the other Party not less than twelve (12) months prior to
the intended date of termination."
Sound OK? if so I'll add it to my draft.
David Foti
05/10/2000 06:20 PM
To: Susan Scott/ET&S/Enron@ENRON
cc: Rich Jolly/ET&S/Enron@ENRON
Subject: Re: WT-1 Electric Service Agreement
Looks like you nailed the least cost billing provision pretty good. Just
need to abrogate our remaining term and make all agreements evergreen.
From: Susan Scott 05/10/2000 05:45 PM
To: David Foti/ET&S/Enron@ENRON
cc: Rich Jolly/ET&S/Enron@ENRON
Subject: WT-1 Electric Service Agreement
P.S. -- Dave, on your wish list you had included an evergreen provision. See
Section 2 of the original contract, which gives TW the right to extend for
another five-year term by giving notice to SPS. If TW does not give such
notice, SPS may cancel the contract, and if it doesn't, the contract
automatically rolls over for another year. If this is not acceptable please
let me know.
---------------------- Forwarded by Susan Scott/ET&S/Enron on 05/10/2000
05:40 PM ---------------------------
From: Susan Scott 05/10/2000 05:41 PM
To: Rich Jolly/ET&S/Enron@ENRON, David Foti/ET&S/Enron@ENRON
cc:
Subject: WT-1 Electric Service Agreement
Rich and Dave, attached are my suggested revisions to Mike McLeod's draft of
an amendment to the original electric service agreement. Dave, I'll bring
you a copy of that agreement. Rich, if Mike did not send you one, let me
know and I will fax it to you.
In my revisions, I've attempted to reflect the least cost billing you
described to me, using terminology I read in the tariff. Please let me know
if it looks alright to you. I'm available to discuss this whenever you are,
then I will make sending this to Mike top priority. My sincerest apologies
for the delay; there has been more chaos around here than I am accustomed to
handling, and I appreciate your patience.
Susan
x30596
|
scott-s/_sent_mail/244.
|
|
<18212904.1075858229814.JavaMail.evans@thyme>
|
0003-0001 OAs as of 4/2000 GL
|
[
"[email protected]"
] |
[] |
[] | 2000-06-07T18:30:00Z
|
---------------------- Forwarded by Phillip M Love/HOU/ECT on 06/07/2000
06:26 PM ---------------------------
Jim Little
05/12/2000 08:55 AM
To: Mary Theresa Franklin/HOU/ECT@ECT, Cathy De La Torre/HOU/ECT@ECT, Gary
Nelson/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Carrie Hollomon/HOU/ECT@ECT,
Kellie Bilski/HOU/ECT@ECT, Rhonda Robinson/HOU/ECT@ECT, Rita
Wynne/HOU/ECT@ECT, Gregory A Mausser/HOU/ECT@ECT, Janie Aguayo/HOU/ECT@ECT,
Bryan Hull/HOU/ECT@ECT, John Valdes/HOU/ECT@ECT, Melba A Bowen/HOU/ECT@ECT,
Cathy Sprowls/HOU/ECT@ECT
cc:
Subject: 0003-0001 OAs as of 4/2000 GL
|
love-p/discussion_threads/113.
|
|
<14840674.1075860237113.JavaMail.evans@thyme>
|
Leona Tan
|
[
"[email protected]"
] |
[] |
[] | 2000-04-13T09:42:00Z
|
Dear Mark,
As per our discussion at the law conference and my voice mail to you earlier
this week, attached is Leona Tan's resume. Please let me know if I can
assist you further in this regard. All the best!
Cynthia
|
taylor-m/australia_trading/8.
|
|
<22170097.1075862178026.JavaMail.evans@thyme>
|
RE: Hello
|
[
"[email protected]"
] |
[] |
[] | 2001-11-09T21:36:17Z
|
got your message last night. What is up? Bet you are glad you are not working for the big E. Things are not too good here. Just waiting for the ax to drop. Hope things are good in SF. Talk to you soon.
PL
-----Original Message-----
From: Steve Bonilla <[email protected]>@ENRON
Sent: Monday, October 22, 2001 8:11 PM
To: Love, Phillip M.
Subject: Re: Hello
Hey Philip!
What's up? I have mixed feeling about you going to
ND...I', jealous! This year is out for me
unfortunately. I have some friends that have gone to
games this year...I'll get the skinny on scalping. It
shouldn't be much of a prop. However, despite there
records, it's still ND and Tennesse. It will be sold
out. But you can get tix. I know this much. You
can't (or it's against school policy to )get tix on
campus. However, there are plenty of scalper on roads
leading to campus.
Sites to see. Definietly check out the campus. Make
time to see the lakes, go by the dome etc. It's
awesome. Also, it may be one of the games of the
week...so, look out for espn, nbc and all the rest.
The hype is great when networks other than nbc show.
Lots of small bars...avoid the linebacker, unless you
want to test that you have the endurance you had in
undergrad. College Football Hall of Fame is
there...downtown. Tailgating is great....like I said
make sure you get to the game early. That way you'll
get the whole experience. Lots of tradition game day,
for example the Band marches from the dome to the
stadium....it's awesome.
I'll give you a call at work..
Later,
Steve
--- "Love, Phillip M." <[email protected]>
wrote:
> How are things going? Are you still in San
> Francisco? If so I bet the
> city has been going crazy about Barry Bonds and you
> have been catching
> flack about the wimpy Astros and how they pitched
> him.
>
> Some guys and I make a trip every year to a
> different college football
> game and we changed it at the last minute this year.
> We are now going
> to go to the Notre Dame v. Tennessee game. I was
> going to hit you up
> for some information on your old stomping grounds.
> Were and when is the
> best place to scalp some tickets. The brokers in
> Chicago think way to
> highly of a couple of teams with two or more losses.
> Where should we
> hang out/ tailgate? And what sites should we see
> besides Touchdown
> Jesus?
>
> Hope things are going well and give me a call when
> you head back this
> way. Thanks.
> PL
>
>
>
>
**********************************************************************
> This e-mail is the property of Enron Corp. and/or
> its relevant affiliate and may contain confidential
> and privileged material for the sole use of the
> intended recipient (s). Any review, use,
> distribution or disclosure by others is strictly
> prohibited. If you are not the intended recipient
> (or authorized to receive for the recipient), please
> contact the sender or reply to Enron Corp. at
> [email protected] and delete
> all copies of the message. This e-mail (and any
> attachments hereto) are not intended to be an offer
> (or an acceptance) and do not create or evidence a
> binding and enforceable contract between Enron Corp.
> (or any of its affiliates) and the intended
> recipient or any other party, and may not be relied
> on by anyone as the basis of a contract by estoppel
> or otherwise. Thank you.
>
**********************************************************************
__________________________________________________
Do You Yahoo!?
Make a great connection at Yahoo! Personals.
http://personals.yahoo.com
|
love-p/sent_items/765.
|
|
<23520008.1075852220995.JavaMail.evans@thyme>
|
Your buy.com order is on its way
|
[
"[email protected]"
] |
[] |
[] | 2001-10-15T22:11:42Z
|
Hello Darron,
Just wanted to let you know that the following items from your
order #11695228 have shipped and are on the way to your door:
item sku 40157515 qty :1 STAR WARS 1-PH(S)DVD
*This item shipped on 10/12/2001
If you have any questions regarding this or any other order, please
feel free to contact us at any time by visiting customer support at
https://www.us.buy.com/corp/support.
We built buy.com with one thing in mind - enabling you and all our
customers to buy products better - that means offering you top brands,
superstore selection, low prices, and outstanding service.
Once again, thank you for your order. We look forward to earning your
business as we set out to be the "best place to buy on the Internet."
Sincerely,
Krista Smith
Director, Customer Support
http://www.us.buy.com
* Please use the link below for your Customer Support questions. Please
do not reply to the buy.com email address. For anytime Help click:
www.us.buy.com/corp/support.
*****************************************************************
-If there are other items in your order that have not yet shipped,
we will send you a confirmation email as soon as they do.
-Do not be concerned if items in your order arrive in separate
packages. For quicker delivery, we ship from multiple warehouses
throughout the country.
-You can track your order online at
http://www.us.buy.com/corp/support/login.asp
or get instructions about how to track directly from your mobile device at
http://www.us.buy.com/retail/wireless/toc_feature.asp?loc=13676.
******************************************************************
Please enjoy these offers from our partners:
******************************************************************
* DVD Essentials! Breathe some life into your DVD collection
with must-have DVDs from MGM including hits like
When Harry Met Sally, Rain Man, The Usual Suspects and more!
http://www.us.buy.com/clickfrom/shipping/MGMstore_0207.asp
|
giron-d/deleted_items/170.
|
|
<25609942.1075856151491.JavaMail.evans@thyme>
|
Enerfax Daily's free web version of gas & power prices and info
Enerfax Daily (27).htm
|
[
"[email protected]"
] |
[] |
[] | 2000-12-01T04:50:00Z
|
http://personal.msy.bellsouth.net/~edaily
|
donohoe-t/discussion_threads/137.
|
|
<10306190.1075862038763.JavaMail.evans@thyme>
|
RE:
|
[
"[email protected]"
] |
[] |
[] | 2001-11-26T16:26:30Z
|
you always confuse me with everything. i think that you do that on purpose. i'm going to kill you!
-----Original Message-----
From: Maggi, Mike
Sent: Monday, November 26, 2001 10:26 AM
To: Nelson, Michelle
Subject: RE:
your getting confused again
-----Original Message-----
From: Nelson, Michelle
Sent: Monday, November 26, 2001 10:25 AM
To: Maggi, Mike
Subject: RE:
i hate you!
-----Original Message-----
From: Maggi, Mike
Sent: Monday, November 26, 2001 10:24 AM
To: Nelson, Michelle
Subject: RE:
anytime
-----Original Message-----
From: Nelson, Michelle
Sent: Monday, November 26, 2001 10:24 AM
To: Maggi, Mike
Subject: RE:
well thanks for your help charlie brown
-----Original Message-----
From: Maggi, Mike
Sent: Monday, November 26, 2001 10:24 AM
To: Nelson, Michelle
Subject: RE:
nope and nope
-----Original Message-----
From: Nelson, Michelle
Sent: Monday, November 26, 2001 10:20 AM
To: Maggi, Mike
Subject:
did you go work out this morning?
do you know an orthodontist in houston?
|
maggi-m/deleted_items/1501.
|
|
<32415074.1075856314540.JavaMail.evans@thyme>
|
Enron/Stanford Program
|
[
"[email protected]",
"[email protected]"
] |
[] |
[] | 2000-07-06T15:26:00Z
|
Hello Vince, Stinson,
Thank you very much for hosting my visit at Enron. I had a
very pleasant time there, and I found the meetings very
informative.
As discussed during my visit at Enron, I am sending you below
a DRAFT of the letter that would be needed to get the program
in place and rolling, and start the students working on it.
It took a while to find out what the appropriate process was
and how the letter should be structured. Sorry for the delay.
If I may, I'd like to visit Enron again, sometime in August,
to define the research agenda more precisely and prioritize
the problems to look at. I'm in frequent contact with Giuseppe,
who is impressed by the environment there. We are trying to formulate
the research issues and problems to study, that would be of interest
to Enron. The plan is this:
1) By August, Giuseppe will have been there for almost 2 months
and will probably have a relatively good understanding of the Enron problem
space.
2) I will work together with Giuseppe till August to formulate a set of
good problems of:
a) high practical importance
b) high innovation potential
c) serious scope.
3) I could visit in August (say mid-August or so) to:
a) discuss these problems with you and get your feedback
b) prioritize the problems and evaluate their impact
c) make sure we're on the same page regarding research strategy
and execution path.
I hope we can fully set up the program at Stanford before then, so
that I can bring on board one more Ph.D. student to start his
doctoral work in this area.
I'm all excited about our collaboration. I am even thinking of
starting a research seminar at Stanford, specifically on these
research issues!
Talk to you soon.
Best Regards,
Nick
-----------------------------------------------------------------------
DRAFT of letter to be sent from Enron to Stanford.
Prof. Nicholas Bambos
420 Terman Engineering Center
Management Science & Eng. Dept. and
Electrical Engineering Department
Stanford University
Stanford, CA 94305
Dear Nick,
We are happy to provide gift funds of $100,000 per year, over
three years, to support a program in your research group, related
to Bandwidth Markets/Trading and Networking Technologies.
Enron would like to support research activities in the above
mentioned area, including Pd.D. student work, research seminars etc.
There may also be opportunities to have the supported Ph.D. students
do summer internships at Enron, related to their research interests.
Please find enclosed a check of $100,000 payable to Stanford University
for supporting this research effort in your group during the first year.
Best Regards,
Name and Title
|
kaminski-v/all_documents/5330.
|
|
<32069774.1075862045257.JavaMail.evans@thyme>
|
Re: FW: Information Request for Due Diligence
|
[
"[email protected]"
] |
[] |
[] | 2001-11-27T16:23:58Z
|
Thanks - keep it coming!
Katie
**********NOTE**********
The information contained in this email message is intended only
for use of the individual or entity named above. If the reader
of this message is not the intended recipient, or the employee or
agent responsible to deliver it to the intended recipient, you
are hereby notified that any dissemination, distribution or
copying of this communication is strictly prohibited. If you
have received this communication in error, please immediately
notify us by telephone (713-546-5000), and destroy the original
message. Thank you.
|
cash-m/deleted_items/446.
|
|
<17528263.1075851623497.JavaMail.evans@thyme>
|
Nevada PUC Acts To Change Or Void Long-Term Pwr Contracts
|
[
"[email protected]",
"[email protected]",
"[email protected]"
] |
[] |
[] | 2001-10-11T17:47:56Z
|
FYI.
Nevada PUC Acts To Change Or Void Long-Term Pwr Contracts
LOS ANGELES -(Dow Jones)- The Nevada Public Utilities Commission Wednesday voted to allow its General Counsel Office to take any action necessary to try to void or renegotiate long-term electricity contracts entered into by the state's two largest utilities, a PUC spokeswoman said.
The contracts would force Sierra Pacific Resources' (SRP) utilities Sierra Pacific Power Co. and Nevada Power Co. to pay a higher price for power than current market rates, said Don Soderberg, PUC chairman.
"We paid high prices when the prices were high, but to pay high prices when the prices are low is outrageous," Soderberg said.
No one at Sierra Pacific or Nevada Power was available to comment on which companies have signed contracts with the utilities, or the value of the contracts.
The PUC action follows a letter sent by Gov. Kenny Guinn to the Federal Energy Regulatory Commission in early October asking that the utilities be allowed to renegotiate the contracts.
The General Counsel's office will now have authority to file with FERC and in court to plead against the current contracts.
Sierra Pacific has said that a June FERC order that capped wholesale power prices has penalized the company. Sierra Pacific signed its forward contracts to escape high spot market prices, only to have those contracts end up being more expensive than the capped spot market prices, the company has said. As well, if the company wants to sell any surplus power into the spot market, it will now receive less for that power under the cap, it has said.
California 's Public Utilities Commission is also pushing for renegotiation of $43 billion in long-term contracts signed by the state, which has been buying power on behalf of cash-strapped utilities since January.
|
dasovich-j/sent_items/537.
|
|
<2324260.1075852164296.JavaMail.evans@thyme>
|
Invitaton: An Evening of Hope and Healing
|
[] |
[] |
[] | 2001-10-24T04:18:29Z
|
You're invited to join community and national experts as they discuss your most pressing concerns about September 11th and the ongoing issues we face as a nation.
Operation Hope: Reclaiming Our Future
One Step at a Time
A cooperative community effort to provide a free evening of information, for the entire family (ages 5 and up)
An evening of hope and healing and a blueprint on how to adapt to these challenging times!
Sponsored by Enron
Date: Thursday, October 25, 2001
Time: Registration from 6:15 PM - 6:50 PM
Program from 7:00 PM - 9:00 PM
Place: JW Marriott across from the Galleria on Westheimer
Admission is free, but by RSVP only because of limited space
To RSVP and for more information, please call 713-303-3966
Or Log On to
www.enronoperationhope.com
|
mccarty-d/deleted_items/59.
|
|
<23693526.1075841547811.JavaMail.evans@thyme>
|
Hey Baby.
|
[
"[email protected]"
] |
[] |
[] | 2002-01-23T14:36:04Z
|
Good morning my darling,
I hope you slept well despite your dreams. Hopefully the doctor will give you some more mecine.
I love you so much. I don't know what I'm going to do without you this weekend. I will miss you terribly. I wish we could move tomorrow, I'm so excited to see what our future holds for us and I am so very lucky to have you in my future.
By the way, did I tell you that I love you? Just in case I didn't...
I LOVE YOU!!!!
Have a good day sweetheart. I'll see you tonight for dinner.
I miss you.
Craig.
|
semperger-c/deleted_items/162.
|
|
<1753612.1075852895352.JavaMail.evans@thyme>
|
contract approval
|
[
"[email protected]"
] |
[] |
[] | 2001-08-28T15:07:11Z
|
Steve,
We have a contract extension for Sempra, 30,000/d from La Plata to I/B Link extending it from 12/31/01 to 12/31/02. Max rate. Standard language. I would like to approve this contract in your absence. Legal and Regulatory have already approved. Thanks, Kim.
|
watson-k/sent_items/206.
|
|
<18759816.1075854802346.JavaMail.evans@thyme>
|
Re: Trip to San Diego
|
[
"[email protected]"
] |
[] |
[] | 2000-12-28T09:20:00Z
|
that sounds fine - but the zoo is in balboa park as well
Enron North America Corp.
From: Shanna Husser @ EES 12/28/2000 08:00 AM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: Trip to San Diego
My thoughts for the trip:
Friday:
Everyone says that you have to see the zoo if you are in San Diego. Even- if
you don't particularly like zoos. Everything I read says that it will take
at least half a day. I say we hit that Friday morning through early
afternoon. Spend mid-afternoon near the hotel- beach area- suppose to be
shopping, etc. near there. Then go to the game. When we get back that
night- we can walk on the beach!
Saturday:
Visit Balboa Park. See the Botanical Gardens, in other musuems/gardens in
the area that look interesting. If we aren't sick of seeing animals, there
is suppose to be a wonderful Wild Animal Park that gives trolley or walking
tours (the tours are only like an hour and a half). After that- there is a
ferry you can take across the bay to the Coronado Island to see the Hotel del
Coronado. It is suppose to be a really neat place. Then- you we can finish
the day in the Gaslamp Quarter downtown. It is suppose to have a "lively
evening street scene" and live music.
What do you think? Let me know- so I can look up times that all of these
open- if we are interested.
Shanna
|
bass-e/_sent_mail/1420.
|
|
<10639850.1075851033596.JavaMail.evans@thyme>
|
MSEB Cash Flow and Tariff after 5 year hiatus
|
[
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]"
] |
[
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]"
] | 2001-02-06T13:00:00Z
|
Attached below please find the cash flow/tariff increase study we discussed 2
1/2 weeks ago at the Sunday DPC strategy session. The study assumes a
decrease in losses from 40% to 25% and an increase in collection efficiency
83% to 92% from 2000-01 to 2006-07. Further, it is assumed that only one
block of DPC operates until 2006-07.
Two scenarios based on average realisation are illustrated:
1. A realistic cash flow study and accompanying tariffs. Given the above
assumptions and assuming there is no state subsidy in 2006-07, MSEB should
have a cash flow deficit of R34 Cr. in 2006-07 when Phase II comes on line
for sale to MSEB, given a reasonable annual tariff increase. (See the tariff
sheet in gray shaded area.) The annual rate increases would be15% for LT and
HT agriculture and LT public water works, a 10% increase for domestic, street
lights and interstate sales, a 4% increase for LT industrial and powerloom,
and 1% increase for LT commercial and HT industrial, public water works and
railways.
2. The annual tariff increases needed for MSEB to break even with a 3%
profit, assuming industrial and commercial classes are held flat, are
detailed below. (See the Tariff sheet in red.)
Domestic 8%
LT Public Water Works 35.60%
LT Agriculture and Poultry 26%
Street Light 10.8%
HT Agricultural & Poultry 26.9%
Mula Pravara Electric Coop Soc. 24.30%
Interstate sales 6.5%
It is obvious that even the more realistic scenario would require strong
MSEB, state government and regulator resolve.
In a separate e:mail I will describe the cost of service study we have also
developed for MSEB.
---------------------- Forwarded by Jane Wilson/ENRON_DEVELOPMENT on
02/06/2001 11:08 AM ---------------------------
Heidi Hellmann
02/06/2001 09:43 PM
To: Jane Wilson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Ban Sharma/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Latest Model/Summary
Jane,
Attached is the latest summary (hard coded numbers, like I sent before) and
the latest cashflow model in case that is required for anything.
Just to confirm all that has changed are the customer categories and the MU's
in 1999-2000.
|
kean-s/attachments/1317.
|
||
<7118257.1075856211956.JavaMail.evans@thyme>
|
RE: Contract update
|
[
"[email protected]"
] |
[] |
[] | 2001-03-06T18:05:00Z
|
Vince, if there are some differences that we need to correct, you and I can
meet tomorrow when you bring the contract in. I am available anytime after
lunch. Please call me at X30649.
Sheila
-----Original Message-----
From: Kaminski, Vince
Sent: Tuesday, March 06, 2001 3:10 PM
To: Sheila Walton/HOU/ECT@ENRON
Cc: Kaminski, Vince
Subject: Contract update
Sheila,
Some minor differences between the draft and the final executed version.
I have forgotten to bring the draft today, I shall send a copy to you
tomorrow.
There were some hand-written changes made by Greg ijn the draft that were not
transferred to
the final version.
Vince
|
kaminski-v/all_documents/1249.
|
|
<10743680.1075847306082.JavaMail.evans@thyme>
|
RE: Clickpaper Password App.
|
[
"[email protected]"
] |
[
"[email protected]"
] |
[
"[email protected]"
] | 2001-02-22T12:33:00Z
|
Marla -
The best way to do this is by a side letter agreement. That way we do not
have to modify the existing document and only need to address the issue with
those counterparties that raise it. We can do the side letters from our
office. This needs to be coordinated with either me or Tana Jones.
Mark
Senior Counsel, ENA
Phone: 713-345-8897
Facsimile: 713-646-3940
E-Mail: [email protected]
Marla Thompson/ENRON@enronXgate
02/22/2001 11:16 AM
To: Mark Greenberg/NA/Enron@ENRON
cc:
Subject: RE: Clickpaper Password App.
Should Clickpaper create the new password ap and insert the language you sent
or should we do a letter as an addendum to the password ap?
Regards,
Marla Thompson
-----Original Message-----
From: Greenberg, Mark
Sent: Tuesday, February 20, 2001 2:42 PM
To: Thompson, Marla
Cc: McCullough, Travis; Taylor, Mark; Jones, Tana
Subject: Clickpaper Password App.
Marla -
I appreciate the patience on the Password issue. I realize it has been a
while since we first spoke about this point.
I have reviewed the concern about hackers and Enron use of Passwords and the
best we can do is insert language into the Password App. similar to that
appearing in the attached document (which is the same type of language used
in the ETA's). It is intended only to cover the situation where Clickpaper
personnel use the password or otherwise access the website, in an
unauthorized manner, on behalf of a counterparty. The language does not
address the hacker situation as we place the burden in that situation upon
the counterparty.
Finally, since the Password App. is a legal, electronic agreement, any
amendments or modifications for a counterparty must come through my office or
through Tana Jones ((x. 33399). Accordingly, those counterparties who have
raised the issue should call either one of us if further action is
necessary. We do not actually revise the form agreements, but do provide
side letters indicating modifications to the form agreement.
Once again, please accept my apologizes for the delay. Let me know if you
should need anything further.
<< File: passwordlanguage(2-01).doc >>
Mark
Senior Counsel, ENA
Phone: 713-345-8897
Facsimile: 713-646-3940
E-Mail: [email protected]
|
jones-t/all_documents/9514.
|
|
<20653014.1075840775179.JavaMail.evans@thyme>
|
ATTENTION: Changes in Remote Access
|
[] |
[] |
[] | 2001-12-17T22:04:38Z
|
Please be aware that remote connectivity into the Enron network has changed, IPASS is no longer available. Remote Connectivity into Enron may be obtained by using the eConnect solution. Authorization to use eConnect may be requested via the eRequest system (you will find a link to eRequest on http://itcentral.enron.com).
Email is accessible from any computer with internet connectivity by logging into Outlook Web Access http:\\mail.enron.com with your NT login ID and password. Accessing OWA does not require an eConnect connection.
Please direct all questions or concerns to the Resolution Center at 713-853-1411
ETS customers should direct inquiries to the ETS Solution Center at 713-345-4745
We appreciate your cooperation in advance
|
kaminski-v/deleted_items/791.
|
|
<23115127.1075846777689.JavaMail.evans@thyme>
|
Sumas deal w/ Larry May
|
[
"[email protected]"
] |
[] |
[] | 2000-10-23T16:20:00Z
|
Did any of your traders do a deal with Larry May at Sumas selling half-a-day
at +.03?
|
scott-s/discussion_threads/1185.
|
|
<23678367.1075841763310.JavaMail.evans@thyme>
|
FERC Report
|
[
"[email protected]"
] |
[] |
[] | 2000-10-31T15:58:00Z
|
Following the Commission meeting tomorrow, the FERC report will be posted on
the following web site:
http://www.ferc.fed.us/electric/bulkpower.htm
Jacqueline Gallagher
Research/Policy Assistant
Electric Power Supply Association
1401 H Street, NW
Suite 760
Washington, DC 20005
202.789.7200
202.789.7201
[email protected]
|
symes-k/discussion_threads/74.
|
|
<11513581.1075857389665.JavaMail.evans@thyme>
|
Reliant Energy eBill Statement
|
[
"[email protected]"
] |
[] |
[] | 2001-05-05T09:26:00Z
|
Dear September Vincent,
Just a reminder that your current Reliant Energy HL&P statement is ready
for you to review at https://ebill.reliantenergy.com/logon/ If you
participate in the Automatic Payment Plan (APP), your bank account will be
automatically drafted for the amount due. Remember, with Auto Pay no
action is required to ensure your bill gets paid.
If you do not participate in Automatic Payment Plan (APP), you can pay
your bill immediately or schedule payment for a later date. As with paper
bills your payment is due about 2 weeks from the statement date. The
online bill replaces your paper bill, a paper copy of your bill will not
be sent.
Should you need to modify your account information, go to
https://ebill.reliantenergy.com/logon/ log into eBill and select User
Information. There you can update your information such as your email
address, change your password and add accounts.
As you use our eBill service, please do not hesitate to provide comments
through the Contact Us section of the site. Check out the Frequently Asked
Questions section for a quick reference.
Again, thank you for choosing Reliant Energy,s eBill service.
Reliant Energy eBill Customer Care
http://www.reliantenergy.com/
_____________________________
In an effort to enhance the security of your eBill transactions, Reliant
Energy is upgrading its systems to offer the highest level of protection
possible for all your financial transactions: 128-bit data encryption. To
take advantage of this improved security, beginning in June, all eBill
users must use an internet browser capable of supporting 128-bit
encryption technology. The latest browsers from Microsoft and Netscape
meet this standard and are available for free download using the links
below.
We apologize for any inconvenience, and we appreciate your support as we
work to improve the quality and security of our eBill service. If you
have already upgraded, please disregard this message. If you have not
already upgraded, please do so prior to June.
Sincerely,
Wes Hill,
Reliant Energy eBill Team
Microsoft,s Internet Explorer:
http://www.microsoft.com/windows/ie/download/128bit/intro.htm
Netscape:
http://home.netscape.com/download/index.html
|
mclaughlin-e/all_documents/987.
|
|
<22642924.1075854080615.JavaMail.evans@thyme>
|
HR Generalist for your group
|
[
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]"
] |
[
"[email protected]"
] |
[
"[email protected]"
] | 2000-06-29T12:51:00Z
|
Norma Villarreal is the HR Generalist for all of Brent Price's group and
Hector McLoughlin is the HR Generalist for all the other groups/departments
under Sally Beck.
Toni Graham is the Recruiter for all of Sally Beck's group.
Yvonne Laing is the Compensation Specialist for all of Sally Beck's group.
Janet De La Paz is the Admin. Support Person for the HR group.
I hope this helps you directs your questions or needs for services in the
future.
|
farmer-d/discussion_threads/1577.
|
|
<10221346.1075856203815.JavaMail.evans@thyme>
|
[
"[email protected]"
] |
[] |
[] | 2001-03-23T18:26:00Z
|
http://www.cob.ohio-state.edu/fin/journal/jofsites.htm
|
kaminski-v/all_documents/939.
|
||
<15369652.1075840061374.JavaMail.evans@thyme>
|
Cash transactions for Feb 1-9
|
[
"[email protected]"
] |
[] |
[] | 2002-01-30T00:47:20Z
|
Steve,
Please wire $520,800 to AEP (same info as Tom Alonso's) and wire $567,084 to AVISTA (same info that we've been using). This will take care of our Northwest book of business for Feb 1 through Feb 9. I will send you the P&L calculation a little later.
Thanks
Sean
|
crandell-s/sent_items/14.
|
|
<6329647.1075860572386.JavaMail.evans@thyme>
|
NERC--Pls review ASAP
|
[
"[email protected]"
] |
[] |
[] | 1999-07-09T13:15:00Z
|
---------------------- Forwarded by Richard B Sanders/HOU/ECT on 07/09/99
01:15 PM ---------------------------
From: Christi L Nicolay 07/09/99 12:13 PM
To: Richard Ingersoll/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT,
[email protected]
cc:
Subject: NERC--Pls review ASAP
Call me ASAP with your comments 37007!!
|
sanders-r/sent/2052.
|
|
<22831879.1075858919265.JavaMail.evans@thyme>
|
RE: WEST DESKS--FERC authorizes power marketers to purchase from
industrials (and more)
|
[
"[email protected]"
] |
[] |
[] | 2001-04-30T18:02:42Z
|
No problem...it makes me feel important.
|
scott-s/sent_items/149.
|
|
<8495291.1075860409775.JavaMail.evans@thyme>
|
Re: WP-02 Data Response
|
[
"[email protected]"
] |
[] |
[] | 2001-03-28T14:18:00Z
|
Mary Hain has resigned her position with Enron. Please remove her from all
your mail lists.
Thank you.
Lysa Akin
Gov't Affairs - Sr. Admin. Ass't.
Enron Capital & Trade Resources Corp.
From: Pamela Jacklin <[email protected]>
03/26/2001 11:16 AM
Please respond to [email protected]
To: [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected]
cc:
Subject: WP-02 Data Response
request_number: BPA-JCG:012
firstname: Pamela
lastname: Jacklin
e-mail: [email protected]
exhibit_wp-02-e-: JCG-02
page_numbers: page 11, line 13 - page 18, line 10
request_text: The JCG proposes to eliminate WP-02-E-BPA-65 and
WP-02-E-BPA-74, except for page 1, lines 1-22 and page 8, line 4 to page 9,
line 17. The JCG, however, has filed testimony on the same central issue for
which it finds BPA,s testimony objectionable. Why is it necessary to
eliminate either BPA,s or the JCG,s testimony when Section C.1. of the
Partial Stipulation and Settlement Agreement provides that &no Party shall be
deemed to have approved, admitted or consented to the facts, principles,
methods or theories employed in arriving at the terms of this Partial
Settlement Agreement or the Parties, Proposal, nor shall any party be deemed
to have agreed that any provision of this Partial Settlement or Parties,
Proposal is appropriate for resolving issues in any other proceeding
regardless of whether the Parties, Proposal or Partial Settlement is adopted
by the Administrator, except as expressly provided in this Partial
Settlement8? Please provide a complete explan!
at!
ion why it is absolutely necessary to eliminate any currently filed testimony
and please provide any alternatives to eliminating such testimony considered
by the JCG.
response_text: OBJECTION
Data Request BPA-JCG:012 was not properly served and is otherwise
objectionable. The Joint Customer Group objects to the above Data Request,
as it seeks information about why the Joint Customers contend that the
testimony is inconsistent with the Partial Settlement. Whether BPA's
testimony is consistent or not with the Partial Settlement is not the proper
subject of a data request.
The following information is from the web server:
1. Logon: IUSR_GRANITE
2. Remote Host: 198.36.178.141
3. Remote IP Address: 198.36.178.141
4. Form URL:
https://secure.bpa.gov/power/secure/psp/ratecase/discovery/wp_02_response.html
5. Browser Client: Mozilla/4.0 (compatible; MSIE 5.01; Windows NT)
|
hain-m/discussion_threads/826.
|
|
<13806811.1075849295723.JavaMail.evans@thyme>
|
RESCHEDULED Conference Call re Economists letter, now Friday, July
6, 11:00-11:45AM CDT (Houston time) or (9:00:9:45 AM - Calif time
|
[
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]"
] |
[
"[email protected]",
"[email protected]",
"[email protected]"
] |
[
"[email protected]",
"[email protected]",
"[email protected]"
] | 2001-07-03T14:57:00Z
|
To refresh your memory, this conference call has been rescheduled to discuss
the idea of funding a letter where economists support free market power
pricing and call for an end to wholesale and retail price cap.s
Items to be discussed are: (1) the need for an economist letter, (2) what
the final product will look like from the Independent Institute (David
Theroux, founder and president), (3) the budget for the project,, and (4)
funding and sponsorship diversity.
Rob Bradley is on vacation but will call in.
Call-in details:
Date: Friday, July 6 - 11:00-11:45AM CDT (Houston time) or 9:00-9:45AM
California time
Dial-in number: 800 486 2460
Participant code: 765 320
Host code (Rick Shapiro) 274 244
|
dasovich-j/all_documents/28275.
|
|
<24594196.1075854355780.JavaMail.evans@thyme>
|
Wellhead Adjustments
|
[
"[email protected]"
] |
[] |
[] | 2001-04-09T11:28:00Z
|
Daren,
Please see the attached file.
Bob
|
farmer-d/wellhead/373.
|
|
<29398481.1075844680574.JavaMail.evans@thyme>
|
Re: Cargill-Alliant Financial Deal #495432.01
|
[
"[email protected]"
] |
[] |
[] | 2001-01-23T14:56:00Z
|
Looks good. Sara
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
Kimberly Hundl@ENRON
01/23/2001 02:37 PM
To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Re: Cargill-Alliant Financial Deal #495432.01
Here's the latest version. Please let me know if this is ready to send out.
Thanks for your help!
From: Sara Shackleton@ECT on 01/23/2001 10:52 AM
To: Kimberly Hundl/Corp/Enron@Enron
cc:
Subject: Re: Cargill-Alliant Financial Deal #495432.01
Please let me review your final confirm before you send to Cargill-Alliant.
Thanks. Sara
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
----- Forwarded by Sara Shackleton/HOU/ECT on 01/23/2001 10:51 AM -----
Sara Shackleton
01/22/2001 06:08 PM
To: Kimberly Hundl/Corp/Enron@ENRON
cc:
Subject: Re: Cargill-Alliant Financial Deal #495432.01
Attached are my comments:
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
Kimberly Hundl@ENRON
01/22/2001 05:08 PM
To: Sara Shackleton/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron
cc: Sharen Cason/HOU/ECT@ECT
Subject: Re: Cargill-Alliant Financial Deal #495432.01
This includes the terms of the transaction.
---------------------- Forwarded by Kimberly Hundl/Corp/Enron on 01/22/2001
05:06 PM ---------------------------
Kimberly Hundl
01/22/2001 04:27 PM
To: Sara Shackleton/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron
cc: Sharen Cason/HOU/ECT@ECT
Subject: Re: Cargill-Alliant Financial Deal #495432.01
Please review the attached confirmation letter. In order to apply the
system's automated signature for Dana Davis, I couldn't change that area of
the letter, but all the other changes should be there. I do not have any of
the information called for in the "Payments to Counterpary" section. Please
let me know if you have any questions.
Thank you!
Kimberly Hundl
Power Documentation
From: Samantha Boyd on 01/22/2001 02:31 PM
To: Sharen Cason/HOU/ECT@ECT
cc: Kimberly Hundl/Corp/Enron@Enron, Melissa Ann Murphy/HOU/ECT@ECT
Subject:
Attached for further handling is the Deemed ISDA for Cargill-Alliant, LLC.
Samantha M. Boyd
Sr. Legal Specialist
Enron North America, Corp.
1400 Smith, EB3802A
Houston, TX 77002
Phone: (713) 853-9188
Fax: (713) 646-3490
email: [email protected]
|
shackleton-s/all_documents/8780.
|
|
<16676213.1075854705325.JavaMail.evans@thyme>
|
Re: (no subject)
|
[
"[email protected]"
] |
[] |
[] | 2000-02-25T11:39:00Z
|
Don't get testy. I wasn't trying to get you upset. I thought we were having
a normal conversation. It just didn't seem like you were talking as much as
usual.
Shanna Husser@ENRON
02/25/2000 11:13 AM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: (no subject)
Read too much into you??? How can I read too much into you when I don't know
how to read you at all. Half the time when you say something- I have no idea
what you are really trying to say.
From: Eric Bass @ ECT 02/25/2000 11:09 AM
To: Shanna Husser/Corp/Enron@ENRON
cc:
Subject: Re: (no subject)
I'm fine. I think you read too much into me.
Besides, I'm just trying to find the best way to deal with your attitude!
(ha! ha!)
e
Shanna Husser@ENRON
02/25/2000 11:00 AM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: (no subject)
OK- what is your probelm this morning?
From: Eric Bass @ ECT 02/25/2000 10:54 AM
To: Shanna Husser/Corp/Enron@Enron
cc:
Subject: (no subject)
---------------------- Forwarded by Eric Bass/HOU/ECT on 02/25/2000 10:53 AM
---------------------------
[email protected] on 02/25/2000 09:55:54 AM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: (no subject)
Bright, articulate, attractive, charming, reserved but, most of all, she
admires and respects someone I love. What a gal! I'm glad you work for a
"for profit" company! Enjoyed the evening. LU-M
|
bass-e/sent/871.
|
|
<26068270.1075845926051.JavaMail.evans@thyme>
|
Re: Requests from the Office
|
[
"[email protected]"
] |
[] |
[] | 2000-07-25T08:40:00Z
|
Well, there's your summo wrestler, a fan, wasabi peas, and I think a sea
shell.
Joya Davis@ECT
07/25/2000 08:04 AM
To: Kay Mann/Corp/Enron@Enron
cc:
Subject: Re: Requests from the Office
PLEASE SEE E-MAILS BELOW. CAN YOU HELP HIM OUT? I TOLD HIM NOT TO WORRY
ABOUT IT.
Joya' F. Davis
Sr. Admin. Assistant
ENA Legal Department
EB3855A
[email protected]
(713) 853-9559 DID
(713) 646-4842 FAX
----- Forwarded by Joya Davis/HOU/ECT on 07/25/2000 08:03 AM -----
John Viverito@ENRON
07/25/2000 01:37 AM
To: Joya Davis/HOU/ECT@ECT
cc:
Subject: Re: Requests from the Office
Hi Joya-
Please see if Kay Mann can help putting the list together.
I am a bad shopper, but I will try!
Cheers,
John
Joya Davis@ECT
07/24/2000 10:52 AM
To: John Viverito/Corp/Enron@ENRON
cc:
Subject: Re: Requests from the Office
WE ERASED THE BOARD! SO I GUESS YOU ARE OFF THE HOOK. EVERYONE JUST WANTS
YOU TO HURRY UP & COME BACK :)
Joya' F. Davis
Sr. Admin. Assistant
ENA Legal Department
EB3855A
[email protected]
(713) 853-9559 DID
(713) 646-4842 FAX
John Viverito@ENRON
07/22/2000 09:20 PM
To: Joya Davis/HOU/ECT@ECT
cc:
Subject: Requests from the Office
Joya-
Please send me the list of the things people had requested on the board of my
office, as I will be able to send things back with Alan. As your gift me be
a bit difficult to send back now, think about something else and tell me!!
Thanks,
John
|
mann-k/sent/308.
|
|
<31941675.1075842932425.JavaMail.evans@thyme>
|
Letter to Mike Keeling, Edwards AFB
|
[
"[email protected]",
"[email protected]",
"[email protected]"
] |
[] |
[] | 1999-10-08T15:33:00Z
|
Please find attached letter from Bill Gang to Mike Keeling at Edwards
|
dasovich-j/all_documents/68.
|
|
<6438656.1075847112907.JavaMail.evans@thyme>
|
RE: CSA language
|
[
"[email protected]"
] |
[
"[email protected]",
"[email protected]",
"",
"enron.com",
""
] |
[
"[email protected]",
"[email protected]",
"",
"enron.com",
""
] | 2000-09-29T10:14:00Z
|
This is fine.? We can resign what we need to if you like or you can just
slipsheet.? Does Rick have your signature pages?
Will you be sending originals by courier for our signature or would you like
us to send out the originals?
Tracy Ross, Counsel, Royal Bank of Canada
Phone: 416-974-5503; Fax: 416-974-2217
File -
This email may be privileged and confidential.?
Any dissemination or use of this information by a person other than the
intended recipient(s) is unauthorized.? If you receive this in error,
please advise me immediately.
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: September 29, 2000 9:51 AM
To: [email protected]
Cc: Fleming, Blair ; ""[email protected];
."Haist,.Karen".KAREN..HAIST""@RBCDS.COM;
"'rick.borden"@mailman.enron.com
Subject: Re: CSA language
Attached is a clean and blacklined draft of the Schedule reflecting your
insert.? I think it is our intention to just insert the revised page into
the agreement.
(See attached file: 792e (The Royal Bank) ctr.doc)(See attached file: 792e
(The Royal Bank) red.doc)
??????????????????????????????????????????????????????????????????????????????
???????????????????????????????????????
??????????????????? "Ross, Tracy
"?????????????????????????????????????????????????????????????????????????????
??????
??????????????????? <TRACY.ROSS@ROYA??????? To:????
"'[email protected]'" <[email protected]>,?
??????????????????? LBANK.COM>????????????? "'[email protected]'"
<[email protected]>,???????????????
??????????????????????????????????????????? "'[email protected]'"
<[email protected]>,?????????????????????????
??????????????????? 09/29/2000 08:12??????? "'[email protected]'"
<[email protected]>????????????????????
??????????????????? AM????????????????????? cc:???? "Fleming, Blair "
<[email protected]>, "Haist, Karen"??
???????????????????????????????????????????
<[email protected]>??????????????????????????????????????????????????
??????????????????????????????????????????? Subject:???? CSA
language????????????????????????????????????????????????
??????????????????????????????????????????????????????????????????????????????
???????????????????????????????????????
Attached is the language that is necessary to make sure the CSA is one way.
As it now stands, it is still a 2 way CSA.
?<<CSA Rider.doc>>
Tracy Ross, Counsel, Royal Bank of Canada
Phone: 416-974-5503; Fax: 416-974-2217
File -
This email may be privileged and confidential.
Any dissemination or use of this information by a person other than the
intended recipient(s) is unauthorized.? If you receive this in error,
please advise me immediately.
(See attached file: CSA Rider.doc)
|
jones-t/notes_inbox/1872.
|
|
<5846286.1075847297645.JavaMail.evans@thyme>
|
Steel Physical Products - approvals / profiles
|
[
"[email protected]"
] |
[] |
[] | 2001-01-29T08:26:00Z
|
The steel products below need to be approved, and I don't know what lawyer in
your group approves steel now that Marcus is in the power group.
----- Forwarded by Tana Jones/HOU/ECT on 01/29/2001 08:25 AM -----
Melba Lozano
01/26/2001 05:19 PM
To: Bjorn Hagelmann/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Lisa
Lees/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT
cc: Robert B Cass/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT, Stephanie
Sever/HOU/ECT@ECT, Carl Carter/NA/Enron@Enron, Kevin Meredith/Corp/Enron@ENRON
Subject: Steel Physical Products - approvals / profiles
I need approvals and customer profiles by Wednesday January 31 11:00 am.
Your review and approval of the following product type in the EOL Datamanager
is needed (for directions on approval , please see steps for approval at the
bottom of this e-mail).
US HR Steel Phy 12G 48W Chi A569 Feb-April 01 USD/NT m
A U.S Hot Rolled Steel Transaction with Enron North America Corp, under which
the Seller shall deliver and the Buyer shall take and pay for the Quantity of
the Goods at the Contract Price. The Contract Price shall be the price
submitted by Counterparty via EnronOnline.
The term of the Transaction shall be from the Effective Date of 01 Feb 2001
to the Termination Date of 31 April 2001.
The Transaction is for hot rolled steel with a Thickness of 12 Gauge and a
Width of 48 inches. The Goods shall be commercial quality, prime, hot rolled
steel with specifications to ASTM A569 and tolerances to ASTM A568, unless
quality tolerances are outlined in Schedule 2 of the associated General Terms
and Conditions. The transaction is F.O.B. Reserve Marine Terminal in
Chicago, Ill Metro Area. The Quantity shall be Quantity submitted by
Counterparty via EnronOnline (5% greater or lesser allowance at Seller,s
option). Each calendar month during the term of the Transaction will be a
Dispatch Period. Enron will guarantee delivery by the last day of each
scheduled Dispatch Period and accept supply to the 20th of each scheduled
Dispatch Period. Payment shall be made, against the receipt of the required
documents outlined in the General Terms and Conditions, in the Contractual
Currency by telegraphic transfer no later than 30 calendar days after the
date on which the Goods are released to Buyer.
The price is quoted in dollars (US) per unit of measure, which shall be the
Contractual Currency. The unit of measure against which the price is quoted
shall be net tons (2000 lbs) and the quantity shown shall be in net tons per
month.
US HR Steel Phy 5/16 48W ChiA635 Feb-April 01 USD/NT m
A U.S Hot Rolled Steel Transaction with Enron North America Corp, under which
the Seller shall deliver and the Buyer shall take and pay for the Quantity of
the Goods at the Contract Price. The Contract Price shall be the price
submitted by Counterparty via EnronOnline.
The term of the Transaction shall be from the Effective Date of 01 Feb 2001
to the Termination Date of 31 April 2001.
The Transaction is for hot rolled steel with a Thickness of 5/168 and a Width
of 48 inches. The Goods shall be commercial quality, prime, hot rolled steel
with specifications and tolerances to ASTM A635, unless quality tolerances
are outlined in Schedule 2 of the associated General Terms and Conditions.
The transaction is F.O.B. Reserve Marine Terminal in Chicago, Ill Metro
Area. The Quantity shall be Quantity submitted by Counterparty via
EnronOnline (5% greater or lesser allowance at Seller,s optionEach calendar
month during the term of the Transaction will be a Dispatch Period. Enron
will guarantee delivery by the last day of each scheduled Dispatch Period and
accept supply to the 20th of each scheduled Dispatch Period. Payment shall
be made, against the receipt of the required documents outlined in the
General Terms and Conditions, in the Contractual Currency by telegraphic
transfer no later than 30 calendar days after the date on which the Goods are
released to Buyer.
The price is quoted in dollars (US) per unit of measure, which shall be the
Contractual Currency. The unit of measure against which the price is quoted
shall be net tons (2000 lbs) and the quantity shown shall be in net tons per
month.
==============================================================================
=====
STEPS FOR APPROVAL:
click the START button
select PROGRAMS
select TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
PROCEED WITH USUAL LOGIN/PASSWORD
click the Enron Online Production Cluster "START" button
select EnronOnLine (this is the EOL Datamanager)
PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up
TO APPROVE: Right mouse click on "Approved"
Thanks - Rob Cass - Melba Lozano
x35491 x58986
---------------------- Forwarded by Melba Lozano/HOU/ECT on 01/26/2001 05:06
PM ---------------------------
Carl Carter@ENRON
01/25/2001 05:53 PM
To: Robert B Cass/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT, Kevin
Meredith/Corp/Enron@ENRON, Lisa Lees/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT,
Stephanie Sever/HOU/ECT@ECT
cc: David Forster/Corp/Enron@Enron, Naveed Ahmed/NA/Enron@Enron, Sean
Keenan/HOU/ECT@ECT, Jason Althaus/Corp/Enron@Enron
Subject: Steel Long Descriptions - Physical Products
We plan on putting two new Physical Steel product types into Production
sometime next week. Jason Althaus already has the GT&Cs and will prepare them
for upload when the product types are available.
Included are final versions of the two short and long product descriptions.
Also included are spreadsheets detailing the location and quality
combinations that will initially be shown on the Website.
Let me know if you have any questions.
Carl
|
jones-t/all_documents/9231.
|
|
<12920026.1075857165598.JavaMail.evans@thyme>
|
[
"[email protected]"
] |
[] |
[] | 2000-03-03T14:28:00Z
|
Here is the new Value tabs for the Genco Valuation model. The start payment/
turbine has not been changed and a I am working with Kevin Presto to get this
nailed down. Evergything else is up to date. I am doing a check on all the
property tax numbers. Thanks
Ben
|
rogers-b/all_documents/1757.
|
||
<24207347.1075852161305.JavaMail.evans@thyme>
|
Monday Parking deal with Portland 10/15 Heavy Load
|
[
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]"
] |
[] |
[] | 2001-10-12T20:24:15Z
|
Good Afternoon,
We have length in the system for Monday, 10/15. 50 MW heavy load that will be Generated by Portland at the Midc.
Our deal number for this length is 817305.1
|
dean-c/inbox/976.
|
|
<27477184.1075852733953.JavaMail.evans@thyme>
|
OSBA Report Online HTML Version Volume 74 Issue 43
|
[
"[email protected]"
] |
[] |
[] | 2001-10-19T22:00:29Z
|
Goto Online Report Homepage></a> </td> </tr> <!--========================================= END TR SECTION 1 =============================--> <!--========================================= BEGIN TR SECTION 2 =============================--> <tr> <td width=Curving GraphicHand on Mouse GraphicOctober 22, 2001Vol. 74 # 43 Click to view Legis-Letter Click to view Classifieds Click to view Breaking News CLE Courses Unsubscribe [IMAGE] [IMAGE]
Click to Visit Click to Visit Click to Visit Supreme Court Attorneys-Continuing Legal Education-Carryover Credit Attorney with 40.75 continuing legal education (CLE) hours during reporting period brought mandamus action against CLE commission to require it to apply 12 excess credit hours to next reporting period and prohibition action to prevent commission from disallowing the carryover. Since Gov. Bar R. X(3)(B)(2) entitles attorney who completes more than the required CLE in a reporting period to a maximum of 12 carryover credit hours, commission is not authorized by Gov. Bar R. X or its own regulations to deny such carryover because of attorney's failure to timely file report. Because of nature of hearing, commission did not exercise quasi-judicial authority in denying carryover, and prohibition is denied. State ex rel. Potts v. Comm. on Continuing Legal Edn. 93 Ohio St.3d 452 Attorneys-Discipline-Multiple Violations-Suspension Attorney is indefinitely suspended where she accepted retainer but failed to act on domestic relations matter, delayed repayment, and failed to cooperate in investigation. Cleveland Bar Assn. v. Demore-Ford 93 Ohio St.3d 417 Criminal Law-Association-Intrastate Travel Defendant was convicted of drug offense and subsequently of trespass in a drug exclusion zone. Although ordinance is justified by a compelling state interest in allowing public use and enjoyment within zones free from illegal drug abuse, it infringes on the fundamental right of freedom of intrastate travel and violates the Due Process Clause of the Fourteenth Amendment. Because exclusion of defendant from drug exclusion zone was imposed by the executive branch, it added a criminal penalty for his drug offense neither imposed by a court nor authorized by state criminal statute, in violation of Ohio Const., Art. XVIII, ?3. Also discussed: ordinance prohibiting access only, not human relationships or associations; Supremacy Clause. State v. Burnett 93 Ohio St.3d 419 Criminal Law-Habeas Corpus-Parole Hearing-Guidelines-Due Process Defendant was sentenced for involuntary manslaughter and aggravated burglary and was denied parole, with his next hearing scheduled to be held in 10 years. Court of appeals did not err in dismissing petition for habeas corpus. Adult parole authority's alleged failure to follow its guidelines does not entitle defendant to release; he has no due process right to have alleged errors expunged from parole determination records; his parole was never revoked so as to trigger due process hearing rights; and his petition was defective because he did not attach all pertinent commitment papers, ORC ?2725.04(D). State ex rel. Bray v. Brigano 93 Ohio St.3d 458 Criminal Law-Habeas Corpus-Release-Good Time Credit Defendant was convicted of felonious assault and filed habeas corpus petition for release on grounds that his accumulated "good time" credits under ORC ?2967.193 and former ORC ?2967.19 entitled him to release. Court of appeals did not err in dismissing petition since statutory provisions do not reduce the maximum term of his indeterminate sentence and do not entitle him to release before serving the maximum. Hanes v. Haviland 93 Ohio St.3d 465 Practice and Procedure-Final Order-Attorney-Admission Pro Hac Vice Judgment of court of appeals reversed on authority of ORC ?2505.02 and Guccione v. Hustler Magazine, Inc. (1985), 17 Ohio St.3d 88. Klein v. Streicher 93 Ohio St.3d 446 Practice and Procedure-Judgment-Notice In a foreclosure action, trial court denied defendant's Civ. R. 60(B) and other pending motions, and defendant appealed. Writ of prohibition is granted where court of appeals erred in denying plaintiff's motion to dismiss appeal as untimely since bailiff mailed notice to parties' last known address within three days of entry of judgment, which complied with Civ. R. 58(B), and appeal should have been filed within 30 days, App.R. 4(A). State ex rel. Pheils v. Pietrykowski 93 Ohio St.3d 460 Public Records-Community General Hospital Association-ORC ?149.011(A) In original mandamus action by taxpayers and residents under ORC ?149.43 to inspect, inter alia, minutes of board of trustees of community general hospital association, writ is denied. Association was not subject to Public Records Act because it was not a "public office" or a "public institution" under ORC ?149.011(A). The municipalities had no control over hospital's operation and no board member acted in representational capacity for them, and provision of hospital care is not a uniquely governmental service. The initial issuance of bonds by municipalities for hospital's construction, without provision of funds for other equipment or operations, coupled with lease of building at arguably less than fair market rate, does not constitute support by public taxation. State ex rel. Stys v. Parma Community Gen. Hosp. 93 Ohio St.3d 438 Schools-Administrator-Termination-Notice-Mandamus-Appeal-Moot Relator did not receive written notice from school board of termination of his employment as an administrative officer as required by ORC ?3319.02(C), and court of appeals granted mandamus to compel school board to issue an "other administrator's" employment contract and to pay him back pay and benefits, but denied attorney fees. Since board awarded relator the extraordinary relief ordered by court of appeals, board's appeal is dismissed as moot. Also discussed: attorney fees as damages under ORC ?2731.11. State ex rel. Chapnick v. E. Cleveland City School Dist. Bd. of Edn. 93 Ohio St.3d 449 Workers' Compensation-Average Weekly Wage Claim for industrial injury in 1976 was allowed, and in 1996 claimant moved Industrial Commission to reset her allowed average weekly wage, which was denied. Court of appeals did not err in granting writ of mandamus limited to consideration of readjustment for two years preceding the motion. State ex rel. Lunsford v. Indus. Comm. 93 Ohio St.3d 448 Court of Appeals Opinions Children-Custody-Modification-Best Interests-Alcoholism After custody of minor children and residential parent status were granted father in divorce action, trial court did not err in modifying custody to mother who was moving out of Ohio and granting visitation rights to father. There was some competent evidence to support trial court's determination under ORC ?3109.04(F)(1), where father, an admitted alcoholic, was involved in several drinking incidents, one in front of the children, he had not seen an alcoholism counselor in six months, and the children were tardy to or absent from school many times. Sallee v. Sallee (12th Dist.-2001) 142 Ohio App.3d 366 Criminal Law-Plea Withdrawal-Right to Counsel Defendant, without counsel, entered no contest plea to driving without a license and was sentenced to a jail term and fine, and he moved two days later to withdraw his plea. Trial court erred in denying motion because the state failed to meet its burden in proving that right to counsel was properly waived under criminal rules where there was only mere written waiver of right to counsel. Also discussed: statement of facts and issues in absence of opposing brief. State v. Caynor (7th Dist.-2001) 142 Ohio App.3d 424 Criminal Law-Search and Seizure-Sobriety Checkpoint Defendant was indicted for possession of crack cocaine and criminal tools arising out of a stop and search after he made a U-turn on approaching a sobriety checkpoint. Trial court did not err in granting motion to suppress drugs and crack pipes where defendant had not entered funnel of checkpoint before executing legal U-turn into driveway and officer's view was not optimal. Where defendant committed no traffic violation, police had insufficient cause to stop him based solely on his turning around prior to entering the checkpoint. State v. Bryson (8th Dist.-2001) 142 Ohio App.3d 397 Criminal Law-Sexual Classification-Sexual Predator-Evidence-Recidivism In 1985, defendant was convicted of felonious assault after being indicted for kidnapping, rape, robbery and felonious assault, each with an aggravated felony specification of an earlier attempted rape conviction. Trial court did not err in classifying defendant a sexual predator 15 years after his felonious assault conviction. Under ORC ?2950.01(E), court properly received into evidence victim's statement and testimony that defendant's felonious assault was for the purpose of gratifying his sexual needs and desires. Victim's statement and testimony, defendant's lengthy criminal record and prior convictions and arrests, age of victim and violent nature of crime were probative of defendant's likelihood of recidivism. State v. Childs (8th Dist.-2001) 142 Ohio App.3d 389 Dentists-License Examination-Standing-Public Action Exception Trial court did not err in dismissing for lack of standing dentists' mandamus action against state dental board to compel promulgation of administrative regulation designating acceptable dental licensure examinations. Duty sought to be compelled is not for the benefit of the public sufficient to supply standing under the public action exception to general standing rules, and dentist who was awarded judgment in prior action remanding denial of licensure to board did not have standing because his license application did not depend on alleged invalidity of the rule adopted, OAC ?4715-5-03, or the rule he sought to compel by mandamus. Bowers v. Ohio State Dental Bd. (10th Dist.-2001) 142 Ohio App.3d 376 Negligence-Medical Malpractice-Res Ipsa Loquitur-Jury Instructions-Jury Interrogatories In medical malpractice action against hospital, doctors and practice arising out of patient's death after heart surgery from complications involving alleged puncture of trachea, jury returned verdict for all defendants. Trial court did not err in not instructing jury on breach of fiduciary duty and bailment since no fiduciary duty claim is necessary under medical malpractice and patient is not bailed property; in giving an interrogatory that allowed jury to find negligence without determining the cause because this did not nullify instruction on res ipsa loquitur; and in instructing jury on issue of res ipsa loquitur where court immediately corrected a slip of the tongue, and plaintiff failed to object at trial. Martin v. St. Vincent Med. Ctr. (6th Dist.-2001) 142 Ohio App.3d 347 Negligence-Slip and Fall-Hazardous Condition-Expert Testimony In negligence action for slip and fall in restaurant, jury returned verdict for restaurant. Trial court did not abuse its discretion in denying mistrial where plaintiff did not bear her burden of proof that restaurant created hazardous condition, and any error by trial court in failing to conduct evidentiary analysis after defense counsel referred to plaintiff's litigation history was harmless; in excluding testimony of plaintiff's expert regarding slipperiness of tile floor where he did not visit scene or perform tile experiments, and his opinion was based on deductive reasoning and the elimination of all other causes of the slip. Also discussed: trial court's comments not prejudicial. Eller v. Wendy's Internatl. (10th Dist.-2000) 142 Ohio App.3d 321 Nuisance-Municipal Corporations-Park Roadway-Recreational Use Immunity In nuisance action against city by bicyclist injured in fall after striking traffic control bump on roadway in city park, trial court erred in granting summary judgment to city on basis of recreational use immunity. Roadway is available to general public for travel by vehicles and bicycles for recreational and nonrecreational use. ORC ?1533.181, which affords recreational use immunity only, is inapplicable. Vinar v. Bexley (10th Dist.-2001) 142 Ohio App.3d 341 Practice and Procedure-Notice Dismissals-Double Dismissal Rule-Civ. R. 41(A)(1) Employee was discharged allegedly in retaliation for disclosing safety violations to Federal Aviation Administration and filed and then voluntarily dismissed federal court False Claims Act complaint and separate state court Whistleblower Act action, and then commenced a third similar action in state court. Trial court did not err in dismissing third action with prejudice under Civ. R. 41(A)(1) double dismissal rule because the three actions constituted the same claim under Civ. R. 41(A)(1). The actions arose out of employee's termination following his report of safety violations, even though the claims were based on different theories of recovery. Also discussed: dismissal of United States in action that included private claims; statutory ORC ?4113.52 and public policy Whistleblower claims. Forshey v. Airborne Freight Corp. (12th Dist.-2001) 142 Ohio App.3d 404 Torts-Defamation-Public Figure-Limited-Purpose-Actual Malice In defamation action by businessman against magazine publisher and author referring, inter alia, to his federal indictment, trial court did not err in granting summary judgment to defendants on grounds of plaintiff's being a limited-purpose public figure and lack of actual malice and fair-report privilege. Plaintiff is a limited-purpose public figure to whom the actual malice element of proof applies because over 100 newspaper articles concerning him and his business had been published over a 14-year span. Also discussed: federal indictment fell within fair-report privilege. Kassouf v. Cleveland Magazine City Magazines (11th Dist.-2001) 142 Ohio App.3d 413 Torts-Evidence-Spoliation-Bailment Employee was injured while driving vehicle owned by his employer and brought action for spoliation of evidence and on bailment theory against insurer based on its sale of vehicle for salvage. Trial court did not err in granting summary judgment to insurer since sale was not "willful" destruction of evidence where there was dialogue between plaintiff's attorney and insurer's representative concerning the status of the vehicle. There was no bailment where employee did not transfer a possessory interest in the vehicle to the insurer because insurer had already purchased it from employer. Also discussed: negligent spoliation of evidence. White v. Ford Motor Co. (10th Dist.-2001) 142 Ohio App.3d 384 Misc Court Practice and Procedure-Venue-Contracts-Place of Breach In action by employee for breach of commissions contract against employer, evidence showed that decision not to pay was made in county of employer's principal place of business, and employer's motion is granted to transfer venue to that county from county in which employer merely maintained sales office. Also discussed: county of breach controls for venue purposes, not county of contract's formation. Budzik v. Reynold's Mach., Inc. (Medina Cty. Ct. Com. Pls.-1999) 113 Ohio Misc.2d 17 [IMAGE]
rounding corner graphic Opinion summaries prepared by Anadem, Inc., Columbus, Ohio. [IMAGE]
[IMAGE] [IMAGE] Ohio unreported appellate opinions Ohio Attorney General opinions U.S. Supreme Court opinions U.S. 6th Circuit opinions Ohio ethics opinions Ohio Revised Code Click here to visit Casemaker! [IMAGE] Docket Announcements Rules Announcements Calendar Click here to read more! [IMAGE]
[IMAGE] [IMAGE] [IMAGE] [IMAGE] Contributions to OHIO LAWPAC: A good investment for good government Participate in OHIO LAWPAC, the Ohio State Bar Association's political action fund. LAWPAC works on issues affecting your practice in the Ohio General Assembly and the administration of justice. Click to read more! OSBA sponsors Bench/Bar Conference Attend the first-ever meeting of the U.S. District Courts for the Northern and Southern Districts of Ohio. Click to read more! OSBA Report Online subscriber survey We hope you are enjoying the OSBA Report Online, but we want to make sure! Look for a future e-mail that will link you to our online user survey. This is your chance to let the OSBA know how you feel about this e-mail publication, as well as provide suggestions for its improvement. Your feedback is important and the survey will take just a few minutes to complete. More Association News... [IMAGE]
[IMAGE] OSBA Logo - Justice is Hard Work Editor: Kathleen Maloney Technology Director: Fred Engel IT Engineer: Shane Zatezalo Membership, Public and Media Relations, & Publications Committee: William J. Davis, East Liverpool, chair Colleen E. Cook, Marietta Louis A. DiFabio, Geneva Michael H. Mearan, Portsmouth Kraig E. Noble, St. Marys Heather G. Sowald, Columbus [IMAGE]
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[IMAGE] Copyright ? 1997-2001 Ohio State Bar Association. All rights reserved. To submit comments or suggestions, send to [email protected] [IMAGE] [IMAGE] [IMAGE] [IMAGE]
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hodge-j/deleted_items/152.
|
|
<20100145.1075856537452.JavaMail.evans@thyme>
|
The Inn at Penn
|
[
"[email protected]"
] |
[
"[email protected]",
"[email protected]"
] |
[
"[email protected]",
"[email protected]"
] | 2000-11-20T15:25:00Z
|
Danielle
FYI. This is the information regarding the best hotel
for the meeting on December the 6th, 9:00 - 12:00.
Vince
http://www.innatpenn.com/contact.html
THE INN AT PENN
Sansom Common, 3600 Sansom Street
Philadelphia, PA. 19104
Phone: 1-800-809-7001
Fax: 215-222-4600
Please, mention that the stay is related to the University business
when making the reservation.
Tom Piazze at Wharton can confirm it.
Tom Piazze
Phone: (215) 898 1615
[email protected]
|
kaminski-v/_sent_mail/1458.
|
|
<25936068.1075841761963.JavaMail.evans@thyme>
|
Time Management
|
[
"[email protected]"
] |
[] |
[] | 2000-10-13T12:54:00Z
|
For some reason, the time management function on eHRonline won't allow me to
log in. It says the user is locked and to please notify the person
responsible. I'm using the user ID and password you gave me, so I don't know
what I'm doing wrong. This is not an urgent matter - just respond whenever
you have time.
|
symes-k/discussion_threads/30.
|
|
<16720177.1075851890222.JavaMail.evans@thyme>
|
Sun Devil - Helicopter Fly-Over of Routes
|
[
"[email protected]"
] | 2001-08-31T08:33:00Z
|
Larry,
Please give me a report following your fly-over of the route with Doug
Cebryk. I am very interested in what you see and the potentials that are
there. Don't forget to take your camera. Pictures (slides) would be most
helpful as we work through the early planning stages for the greenfield
portion. As the primary route begins to solidify with alternates, we will
need to develop some preliminary maps. It is my understanding that no maps
of the route will be released with sign-off from the entire group of: Hyatt,
Taylor, Veatch and Shafer.
After we receive the "fatal-flaw" desk-top analysis from ENSR (Sept. 21 -
although I hope to get it sooner), I would offer that several events should
be scheduled to expedite the project as follows:
1. If the open season reflects that we have a project and Eric Gadd approves,
a couple of quick meetings will be held with strategic groups to discuss the
project potential (TNC, State Land Managing agencies, US Forest Service,
etc). These strategic groups will be identified by the ENSR fatal-flaw
analysis.
2. Simultaneously, we will begin working with ENSR (if the open season
reflects that we have a project) on developing a full scoped Environmental
Strategy for Sun Devil (this will include an RFP that will immediately go out
soliciting bids for the Resource Reports and permits).
3. We will work with Steve Veatch and Joe Hartso to schedule a meeting with
the FERC Staff (we need the commitment of the State Land Managing Agencies,
US Forest Service, etc. to collaborate with the FERC on the NEPA review) to
introduce the project and solicit their commitment to offer staff resources
early in the process.
4. We will also need to develop a Public Relations and Government Affairs
strategy which will identify the early meetings that need to be held with
local, state, federal jurisdictional governing bodies and politicians - so
the right folks have a heads-up on the project before it hits the news
media. This also includes developing a strategy on where and when the
project will formally be announced (i.e., news conference in Phoenix or
Houston, etc.). A $580 Million project will be a big deal in the Phoenix
area and for the Southwest.
I know there is more, but this will help to keep some of the early events
coordinated. John Shafer
|
campbell-l/all_documents/515.
|
|||
<14110018.1075862045157.JavaMail.evans@thyme>
|
Canceled - Bi-weekly HR Lead Meeting with David Oxley
|
[
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"mickey.o'[email protected]",
"[email protected]",
"tim.o'[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]"
] |
[
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"angie.o'[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]"
] |
[
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"angie.o'[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]"
] | 2001-11-26T23:30:16Z
|
Apologies for the late notice! Please remove this 8:30 a.m. meeting from your calendar. The next scheduled meeting will be on December 10th. Please let me know if you have any questions. Thank you.
Best Regards,
Julie Clyatt
(713) 853-3256
|
cash-m/deleted_items/442.
|
|
<10412063.1075843969127.JavaMail.evans@thyme>
|
Re: Thanks and a few residual questions
|
[
"[email protected]"
] |
[] |
[] | 2000-10-09T08:16:00Z
|
Gary,
Thanks for the email. Here is my attempt to type out a response. I hope it
helps.
1. It was a matrix organization. The IT personnel reported into the Global
Tech. group but we did that for communication and consistency purposes
rather than simply control. They attended business unit staff meetings and
the BU had a great influence in the review process and gave constant
feedback. It was vitally important for the "customer" to be happy and that
the IT person completed the projects from the BU. When it came to the review
process itself, GT ranked all the employees and peers but the business unit
had the greatest influence on where the person actually ranked and was rated.
2. When Enron Net Works was formed, nothing really changed on the day to day
working of the IT world. IT (Global Technology) was folded into the newly
created 5th business unit at Enron. Remember Global Technology had more that
IT alone. We had an eCommerce commercial group, a principal investments
group and was developing eCommerce or Technology origination roles developing
around the world.
Philippe Bibi is the CTO for Enron and Enron Net Works. He is in the office
of the chairman of ENW with Greg Whalley, CEO and Louise Kitchen, the newly
appointed COO. Both LK and GW are non IT people. There are many VPs on the
next level that are IT executives.
3. In a nut shell, Scott grinned when I told him of my 2 weeks experience
and title as CEO with Enron's goal of becoming the largest B2B player in the
world. He chuckled and said something like, "That sounds like Enron, it
always looks at things differently. He then stated that my CEO title and
Enron's approach was very unusual but that it would be more common place
soon, as this was the way of the future and Enron was the first to recognize
it and change its culture".
4. When i used the word cannibalize, I meant that if we didn't change the
business ourselves, than our competition would do this for us. For example,
we were the leading trader of natural gas in the US by far but we initiated
EnronOnline and completely changed the way we traded natural gas and did it
for free. Thus we cannibalized our own successful business even when it was
going great. We are looking at all of our businesses for changes like that.
Gary, I hoped that helped. Please don't hesitate to contact me if you have
any other questions.
Mike
"Gary Anthes" <[email protected]> on 10/06/2000 04:18:40 PM
To: Mike McConnell <[email protected]>
cc:
Subject: Thanks and a few residual questions
Hello Mike,
Thanks for sending me those presentation slides. They are good background. And
thanks so much for meeting with Julia and me this week. It was most
interesting
and helpful. I'm confused on a couple of points, so would you mind answering a
few more questions?
1. You said that after Enron created the Global Technology group, you "seeded
people out into the business units, and the way we did that is we had those
people be totally accountable both to us and to the business unit head." So,
at
that point it was a sort of matrix organization, with IT people dispersed
thoughout the business units but at the same time accountable to a central IT
organization for things such as standards, is that correct?
2. Then, this spring when Net Works was formed, did those 1,500 IT people
essentially leave the business units to join a more traditional IT
organization?
Roughly how many non-IT people, and of what types, are part of Net Works? Two
of
the three top managers in Net Works are non-IT (from trading), correct? Does
any
given IT person now still live in a matrix world with responsibilities to IT
and
to a business unit?
3. For some reason, my recorder messed up and I couldn't decipher what you
said
about Scott McNealy's reaction to your background, etc. at the breakfast.
Could
you repeat that?
4. You said: "We had to cannibalize our own businesses. So what I think you'll
see five years from now is that the IT world will look totally different."
What
did you mean by "cannibalize our own business"?.
Thanks again.
Regards,
Gary Anthes
Gary H. Anthes, Editor at Large
Computerworld (www.computerworld.com)
1331 Pensylvania Ave. NW; Suite 505
Washington, D.C. 20004
[email protected] [email protected]
202-347-0134 (voice) 202-347-2365 (fax)
|
mcconnell-m/sent/516.
|
|
<22449952.1075845734790.JavaMail.evans@thyme>
|
RE: Conference call on Monday morning
|
[
"[email protected]",
"[email protected]",
"[email protected]"
] |
[] |
[] | 2001-06-01T11:42:00Z
|
How does sometime between 9:30 and 11:00 a.m. EST sound for you all?
> -----Original Message-----
> From: Medley, Becky (Secy-FTL-Env)
> Sent: Friday, June 01, 2001 10:59 AM
> To: '[email protected]'; '[email protected]';
> '[email protected]'
> Subject: Conference call on Monday morning
>
> Please let me know your availability ASAP for a conference call with
> Debbie to discuss the Pompano and Deerfield agreements; we need to submit
> something to the City Attorney in Deerfield Beach on Monday afternoon.
>
> Rebecca C. Medley
> (954) 768-8230
> Assistant to Debbie M. Orshefsky
> and Frank Schnidman
>
>
>
_______________________________________________________________
The information contained in this transmission may contain
privileged and confidential information. It is intended only
for the use of the person(s) named above. If you are not the
intended recipient, you are hereby notified that any review,
dissemination, distribution or duplication of this
communication is strictly prohibited. If you are not the
intended recipient, please contact the sender by reply email
and destroy all copies of the original message.
To reply to our email administrator directly, please send an
email to [email protected].
|
mann-k/all_documents/6324.
|
|
<24302509.1075853070540.JavaMail.evans@thyme>
|
RE: Gas Logistics Presentation
|
[
"[email protected]"
] |
[
"[email protected]",
"[email protected]"
] |
[
"[email protected]",
"[email protected]"
] | 2001-10-26T17:41:08Z
|
Gary, would one of the following dates and times work for you and your group?
November 1 - in the afternoon
November 13 - in the morning
November 14 - in the afternoon
Please give me a call and let me know if any of these work. I am assuming you planning
on 1 hour? Is that right? Thanks. Lynn
-----Original Message-----
From: Anderson, Gary E.
Sent: Tuesday, October 23, 2001 1:14 PM
To: Blair, Lynn
Cc: Stern, Ellis
Subject: Gas Logistics Presentation
Caroline Barnes has indicated that you have a presentation put together that briefly covers the purpose and function of Gas Logistics, and how this department interacts with other departments. I was wondering if you would be interested in making the presentation to GMS personnel to better understand how Measurement impacts your department. Please let me know if you have an interest and when you might be available and I'll arrange for the conference room to be available.
Thanks-
Gary
|
blair-l/sent_items/330.
|
|
<19332585.1075852285383.JavaMail.evans@thyme>
|
FW: WSPP Export Authorization [second transmission because of
possible e-mail difficulties]
|
[
"[email protected]"
] |
[
"[email protected]"
] |
[
"[email protected]"
] | 2001-07-18T16:53:10Z
|
Hi Steve
Attached is notice from Mike Small of the WSPP that we need to provide him info/$ if we want to continue to export to Canada under WSPP. It looks like we are currently on the approved list. Can you make sure we want to continue to be on approved list (I assume we do but....) and send materials to Mike. Thanks - hope your surviving OK
ps I'll be out of the office next week on vacation so ...see ya
-----Original Message-----
From: "David Berman" <[email protected]>@ENRON [mailto:IMCEANOTES-+22David+20Berman+22+20+3CBerman+40wrightlaw+2Ecom+3E+40ENRON@ENRON.com]
Sent: Tuesday, July 17, 2001 8:08 AM
To: Sager, Elizabeth; [email protected]
Subject: WSPP Export Authorization [second transmission because of possible e-mail difficulties]
[second transmission because of possible e-mail difficulties]
Please see attached.
David Berman
Wright & Talisman, P.C.
(202) 393-1200 (phone)
(202) 393-1240 (fax)
[email protected] (e-mail)
www.wrightlaw.com
- export authorization update.pdf
- export authorization update.doc
|
sager-e/sent_items/211.
|
|
<3677640.1075843205473.JavaMail.evans@thyme>
|
Info
|
[
"[email protected]"
] |
[] |
[] | 2000-11-08T10:49:00Z
|
How can I get info on deals we've done to you? Jeff
|
dasovich-j/sent/899.
|
|
<5277962.1075841780444.JavaMail.evans@thyme>
|
Daily EOL Summary 12/19
|
[
"[email protected]"
] |
[] |
[] | 2000-12-19T16:03:00Z
|
Here's the solution I came up with. It will only take a few more minutes each
day, but I think it will make the EOL summary more relevant. Please let me
know if this plan suits you -
1. You will continue to receive the same EnPower/EOL summary, complete with
EES sleeves. If I take the EES deals out of this table, I have to adjust the
total megawatts accordingly. This could end up taking awhile, and I'm not
sure the effect would be worth it. Again, let me know if you agree, because
I'd like this report to be as applicable as possible.
2. I will run the EnPower deal count, excluding EES deals. I'll compare this
count to the original one to determine how many EES deals were done by each
desk, then double that number - to account for both sides of the sleeve - and
subtract. I'll enter the altered numbers into the graph, which should produce
a more accurate rendering of the day's activities.
I think I made it sound more complicated than it is. Bottom line, this should
solve the EES sleeve dilemma with little ado.
Kate
|
symes-k/discussion_threads/731.
|
|
<26917005.1075860852174.JavaMail.evans@thyme>
|
Americans
|
[] |
[] | 2001-09-15T03:53:44Z
|
>
Subject: This was in the Miami Times this morning
By Leonard Pitts Jr.
Syndicated columnist
They pay me to tease shades of meaning from
social and cultural issues, to provide words that help make sense
of that which troubles the American soul. But
in this moment of airless shock when hot tears sting disbelieving
eyes, the only thing I can find to say, the
only words that seem to fit, must be addressed to the unknown author
of this suffering.
You monster. You beast. You unspeakable
#######.
What lesson did you hope to teach us by your
coward's attack on our World Trade Center, our Pentagon, us?
What was it you hoped we would learn? Whatever
it was, please know that you failed.
Did you want us to respect your cause? You just
damned your cause.
Did you want to make us fear? You just steeled
our resolve.
Did you want to tear us apart? You just brought
us together.
Let me tell you about my people. We are a vast
and quarrelsome family, a family rent by racial, cultural, political
and class division, but a family nonetheless.
We're frivolous, yes, capable of expending tremendous emotional
energy on pop cultural minutiae, a singer's
revealing dress, a ball team's misfortune, a cartoon mouse.
We're wealthy, too, spoiled by the ready
availability of trinkets and material goods, and maybe because of that,
we walk through life with a certain sense of
blithe entitlement. We are fundamentally decent, though -
peace-loving and compassionate. We struggle to
know the right thing and to do it. And we are, the overwhelming
majority of us, people of faith, believers in a
just and loving God.
Some people - you, perhaps - think that any or
all of this makes us weak. You're mistaken. We are not weak.
Indeed, we are strong in ways that cannot be
measured by arsenals.
Yes, we're in pain now. We are in mourning and
we are in shock. We're still grappling with the unreality of the
awful thing you did, still working to make
ourselves understand that this isn't a special effect from some
Hollywood blockbuster, isn't the plot
development from a Tom Clancy novel.
Both in terms of the awful scope of its
ambition and the probable final death toll, your attacks are likely to
go
down as the worst acts of terrorism in the
history of the United States and, indeed, the history of the world.
You've bloodied us as we have never been
bloodied before.
But there's a gulf of difference between making
us bloody and making us fall. This is the lesson Japan was taught
to its bitter sorrow the last time anyone hit
us this hard, the last time anyone brought us such abrupt and
monumental pain. When roused, we are righteous
in our outrage, terrible in our force. When provoked by this level
of barbarism, we will bear any suffering, pay
any cost, go to any length, in the pursuit of justice.
I tell you this without fear of contradiction.
I know my people, as you, I think, do not. What I know reassures me.
It also causes me to tremble with dread of the
future.
In days to come, there will be recrimination
and accusation, fingers pointing to determine whose failure allowed
this to happen and what can be done to prevent
it from happening again. There will be heightened security,
misguided talk of revoking basic freedoms.
We'll go forward from this moment sobered, chastened, sad. But
determined, too. Unimaginably determined.
You see, there is steel beneath this velvet.
That aspect of our character is seldom understood by people who
don't know us well. On this day, the family's
bickering is put on hold. As Americans we will weep, as Americans we
will mourn, and as Americans, we will rise in
defense of all that we cherish.
Still, I keep wondering what it was you hoped
to teach us. It occurs to me that maybe you just wanted us to
know the depths of your hatred.
If that's the case, consider the message
received. And take this message in exchange: You don't know my
people. You don't know what we're about. You
don't know what you just started.
But you're about to learn.
|
hyatt-k/personal/82.
|
||
<14053494.1075846699787.JavaMail.evans@thyme>
|
Regulatory Matrix -Gallup Expansion
|
[
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]"
] |
[] |
[] | 2000-11-28T16:41:00Z
|
Attached is a revised regulatory matrix for the Gallup Expansion reflecting
Transwestern's request for a waiver of the 6 month requirement and a request
for an extension of time to file the final costs. Any questions, please let
me know.
|
scott-s/discussion_threads/631.
|
|
<17285200.1075844826451.JavaMail.evans@thyme>
|
Dynegydirect Update
|
[] |
[] |
[] | 2001-02-07T09:28:00Z
|
Dynegydirect has experienced system problems this morning. We are working
to resolve the problem. If you have any questions or concerns, please
feel free to call e-Care for any information. We apologize for any
inconvenience this may have caused.
Thank you,
DYNEGYdirect e- care
Customer Support
Dynegy, Inc.
Ph: (877) 396.3493 Fx: (877) 396.3492
Email: [email protected]
|
shackleton-s/notes_inbox/3306.
|
|
<29671450.1075859206043.JavaMail.evans@thyme>
|
[
"[email protected]"
] |
[] |
[] | 2001-12-03T20:42:35Z
|
I'm going to work the rest of the day from home--I will be working, though (it's just not easy to work from the office today, as you can imagine). You can reach me by email and cell phone 415.505.6633. Hang in there buddy.
Best,
Jeff
|
dasovich-j/sent_items/2351.
|
||
<13177226.1075845560310.JavaMail.evans@thyme>
|
Re: Canadian Enerdata Ltd.
|
[
"[email protected]"
] |
[] |
[] | 2000-11-13T13:51:00Z
|
Just keep pushing forward. We'll figure this out as we go.
Lavo
|
lavorato-j/sent/438.
|
|
<7262875.1075856734492.JavaMail.evans@thyme>
|
Meeting on Thu
|
[
"[email protected]"
] |
[
"[email protected]",
"[email protected]"
] |
[
"[email protected]",
"[email protected]"
] | 2000-05-23T18:16:00Z
|
Ravi,
Let's meet Thursday.
I am out tomorrow. Please, call me at home.
Vince
|
kaminski-v/all_documents/9176.
|
|
<33255717.1075856478942.JavaMail.evans@thyme>
|
Re: Support for Exotica
|
[
"[email protected]"
] |
[
"[email protected]"
] |
[
"[email protected]"
] | 2000-10-13T08:44:00Z
|
Steve,
I am calling Anjam to give him a deadline regarding move to Houston.
If he decides to stay in Houston, you should meet with him to convey
the concerns regarding his performance.
Vince
Steven Leppard
10/13/2000 03:50 AM
To: Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT, Dale
Surbey/LON/ECT@ECT, Tani Nath/LON/ECT@ECT
cc: Paulo Issler/HOU/ECT@ECT, Sharad Agnihotri/LON/ECT@ECT, Zimin
Lu/HOU/ECT@ECT
Subject: Support for Exotica
All
Sharad's investigations of Exotica's status in London have turned up a very
confused state of affairs. This isn't being helped by the fact that:
1. Anjam is rarely at his desk, and can't be found anywhere in the building.
2. When he is around he isn't willing or able to provide all the information
Sharad might need to support Exotica.
This is worrying since much of our business depends on the validity of
Exotica's valuations.
Sharad will now request information from Anjam via email to leave a trail,
and I want to alert you to the fact that Sharad will be cc'ing you in on
these emails.
If things don't improve soon, I may need to request some assistance in
extracting this information from Anjam.
Many thanks,
Steve
|
kaminski-v/sent/1786.
|
|
<4664911.1075841761365.JavaMail.evans@thyme>
|
Monday Staff Meetings
|
[
"[email protected]"
] |
[] |
[] | 2000-10-02T12:45:00Z
|
Just to clarify - you are booked in the Mt. Bachelor conference room for your
Monday morning staff meetings, 9 to 10:15 a.m., from now until this time next
year. Hopefully this will eliminate any last minute confusion like what we
ran into this morning. If you have any other questions, please let Mollie or
myself know and we'll address them as quickly as possible.
Thank you -
Kate Symes
West Origination Clerk
|
symes-k/discussion_threads/4.
|
|
<28970597.1075862274241.JavaMail.evans@thyme>
|
Kevin
|
[
"[email protected]"
] |
[] |
[] | 2001-10-30T13:47:50Z
|
We will need a Unanimous Consent to make Kevin an Officer of the pipes, title should just be Vice President. I think given the discussions over the weekend it would be good to do so effective last friday.
Thanks.
Rod Hayslett
EB4054
713-853-6178
|
hayslett-r/sent_items/52.
|
|
<12372401.1075841802494.JavaMail.evans@thyme>
|
2/7 Checkout
|
[
"[email protected]"
] |
[] |
[] | 2001-02-07T16:57:00Z
|
I know you guys are still entering trades but for the record I am missing the
following:
Mike Swerzbin:
Enron sells to BP Amoco 25 mw of Q4'01 Palo Verde at $175 peak hrs. ---Amerex
is broker
Enron sells to Williams 25 mw of Q4'01 Palo Verde at $175 peak hrs,---Amerex
is broker
Tom Alonso:
Enron sells to Merrill 25 mw of March PV at $215 peak hrs,----Bloomberg is
broker
Thanks!!
|
symes-k/discussion_threads/1552.
|
|
<16428825.1075855483202.JavaMail.evans@thyme>
|
NWP System Notice - 01-187 JANUARY 2001 SCHEDULED MAINT.
|
[
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]"
] |
[] |
[] | 2000-12-11T18:18:00Z
|
Post Date: December 11, 2000
Category: MAINTENANCE
Subcategory: NWP MONTHLY MAINTENANCE
Subject: 01-187 JANUARY 2001 SCHEDULED MAINT.
Notice Text:
All Shippers Letter # 01-187
Date:?? 12/11/00
Time:?? 17:00hrs
TO:???? All Shippers
Subject:??????? January 2001Maintenance
WILLIAMS GAS PIPELINE-WEST / Northwest Pipeline SCHEDULED MAINTENANCE
as posted 12 - 11, 2000
The following maintenance work is scheduled on Williams Gas Pipeline-West /
Northwest
Pipeline (WGP-W) during the month of January 2001.? The scheduled maintenance
is
Northwest's most recent projection of potential system impacts.? This
schedule is provided to assist you in planning your business for the coming
month. The impacts are estimates,
which could change depending on other scheduling factors.? If any previously
scheduled
maintenance activities change, an updated notice will be posted to the EBB as
soon as
possible.
UPCOMING JANUARY SCHEDULED MAINTENANCE
January 8, 2001thru March 18, 2001
Caldwell Foundation Replacement Project:
The Caldwell compressor station is scheduled to be out of service beginning
January 8, 2001 until March 18, 2001 to replace the compressor unit
foundations.
There is no anticipated impact at this time.
Northwest will advise you of any change to this schedule.
If you have any questions regarding this notice, please contact your
Northwest
Marketing Service Representative at (801) 584-7301.
WGP-W
st
|
ermis-f/discussion_threads/177.
|
|
<22264167.1075860722848.JavaMail.evans@thyme>
|
Price Reservations 19 January 2002 Real-Time and Hour-Ahead
Markets, and 20 January 2002 Day-Ahead Market
|
[
"[email protected]"
] |
[] |
[] | 2002-01-20T17:52:49Z
|
The NYISO is reserving hour beginning 10:00 in the January 19, 2002
Real-Time Market.
In addition, the NYISO is reserving hours beginning 0:00 - 11:00, 13:00,
14:00 and 17:00 - 23:00 in
the January 19, 2002 Hour-Ahead locational reserve market.
Prices in the January 20, 2002 Day-Ahead Market are correct.
Please note that Market Monitoring will no longer be reserving prices due
to ECA-B. Code modifications were made on December 20th to incorporate
into the Real-Time price, the BME price in the presence of congestion. The
incorporation is now an automatic process that is prescribed by the NYISO
tariffs. This message will appear in price reservation announcements
through January 31, 2002.
This e-mail information is a copy of the official posting which can be
found at the following address of our website:
http://mis.nyiso.com/public/htm/OperMessages/CurrentOperMessages.htm#mm
---
You are currently subscribed to nyiso_tie as: [email protected]
To unsubscribe send a blank email to [email protected]
|
rogers-b/deleted_items/106.
|
|
<6622596.1075853277173.JavaMail.evans@thyme>
|
Re: industrial holdings investment-- arbitration proceeding
|
[] |
[
"[email protected]",
"[email protected]"
] |
[
"[email protected]",
"[email protected]"
] | 2001-04-24T09:56:00Z
|
Jim and Mark --- Gail and Ross Rommel at A&K did a nice job on this.
Lisa Mellencamp
04/24/2001 09:54 AM
To: James Derrick/Enron@EnronXGate, Mark E Haedicke/HOU/ECT@ECT, Richard B
Sanders/HOU/ECT@ECT
cc: Gail Brownfeld/ENRON@enronXgate
Subject: industrial holdings investment-- arbitration proceeding
the arbitration proceeding filed with respect to this ena investment (which
andrews and kurth filed for us), has been settled quickly in our favor with
gail's assistance. this is the matter which we felt would not get actually
litigated in the context of selection of counsel and wanted to confirm back
this was the case.
Lisa J. Mellencamp
Enron North America Corp. - Legal
1400 Smith St.
Houston, TX 77002
Tel: (713) 853-7986
Fax: (713) 646-3393
E-mail: [email protected]
|
sanders-r/sent/1033.
|
|
<11159300.1075852510879.JavaMail.evans@thyme>
|
Benchmark Rate Swap
|
[
"[email protected]"
] |
[] |
[] | 2001-10-26T13:19:55Z
|
Rogers --
Harry Kingerski informed me that you and some team members were going to visit ConEd to discuss the Benchmark Rate Swap. I think it's a great idea (Scott Gahn and I had discussed something similar a few years ago when he ran URM).
My only thoughts for you would be: 1) maybe difficult to do the swap with the Utility (given PUC oversight), but the Holding company should be in the same place financially and should be protected from PUC scrutiny and 2) being long T&D (assuming that you don't sell 100% of the position to customers) creates interesting regulatory questions.
I'd love to sit down with you to discuss this product.
Jim
|
steffes-j/sent_items/453.
|
|
<2985689.1075861460851.JavaMail.evans@thyme>
|
RE: Do we play today?
|
[
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]"
] |
[
"[email protected]"
] |
[
"[email protected]"
] | 2001-11-13T23:07:50Z
|
Please include Devil Dawg (aka Dee-Dee) in your invite I believe he might be game this evening.
Allan Elliott
-----Original Message-----
From: Dunn, John
Sent: Tuesday, November 13, 2001 4:50 PM
To: '[email protected] '; Dunn, John; Dunn, John; Elliott, Allan; Cherry, Michael; Sample, Matt; Cherry, Beth
Cc: '[email protected] '
Subject: RE: Do we play today?
Hey, it isn't *that* quick! I can take my time if I want to.
-----Original Message-----
From: [email protected]
To: [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]
Cc: [email protected]
Sent: 11/13/2001 4:51 PM
Subject: RE: Do we play today?
I hear you are good at facilitating a quick "meating"
-----Original Message-----
From: "Dunn, John" <[email protected]>@ENRON
Sent: Tuesday, November 13, 2001 4:45 PM
To: Wolfe, Jason; Dunn, John; Elliott, Allan; Cherry, Michael;
Sample, Matt; Cherry, Beth
Cc: '[email protected] '
Subject: RE: Do we play today?
I'm playing. I will be in the office at 5:30 for a quick meeting,
but I
will join you after that.
-----Original Message-----
From: [email protected]
To: [email protected]; [email protected];
[email protected]; [email protected];
[email protected]
Cc: [email protected]
Sent: 11/13/2001 4:47 PM
Subject: RE: Do we play today?
Who is playing, and when should we start? Get back at me so I will
know
when to show up.
Thanks,
DJ
-----Original Message-----
From: "Dunn, John" <[email protected]>@ENRON
Sent: Tuesday, November 13, 2001 11:43 AM
To: Elliott, Allan; Cherry, Michael; Sample, Matt; Cherry,
Beth;
Wolfe, Jason
Cc: ''''''''Jondaworky ([email protected]) ' ' ' ' ' ' '
'
Subject: RE: Do we play today?
I'm going to shave my team name in the back of my mullet.
-----Original Message-----
From: Elliott, Allan
To: Cherry, Michael; Sample, Matt; Cherry, Beth; Dunn, John;
'''''''''''''[email protected]' ' ' ' ' ' ' ' ' ' ' ' '
Cc: '''''''Jondaworky ([email protected]) ' ' ' ' ' ' '
Sent: 11/13/2001 11:35 AM
Subject: RE: Do we play today?
Ack!! Trying to catch up here after several days of vacation.
Quite
a
meandering collection of emails. You should get your tee shirts
and
why
not go the whole 9 yards and get custom license plates... take
pride
in
your losing streak!! Unfortunately I don't think I can make the
game
tonight, but Thursday or Friday for an xbox demo would be cool.
IT Traveler
**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant
affiliate
and may contain confidential and privileged material for the sole use
of
the intended recipient (s). Any review, use, distribution or
disclosure
by others is strictly prohibited. If you are not the intended
recipient
(or authorized to receive for the recipient), please contact the
sender
or reply to Enron Corp. at [email protected]
and
delete all copies of the message. This e-mail (and any attachments
hereto) are not intended to be an offer (or an acceptance) and do not
create or evidence a binding and enforceable contract between Enron
Corp. (or any of its affiliates) and the intended recipient or any
other
party, and may not be relied on by anyone as the basis of a contract
by
estoppel or otherwise. Thank you.
**********************************************************************
|
wolfe-j/inbox/289.
|
|
<3905453.1075853943648.JavaMail.evans@thyme>
|
EMAZING Positive Living Tip of the Day - Assert Yourself At Work
|
[
"[email protected]"
] |
[] |
[] | 2000-12-14T02:20:00Z
|
EMAZING Home[IMAGE]Edit Your ProfilePrivacy
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work, get some good advice from John Gray or Suze Orman, or have Stephen King
read you a bedtime story. Whatever you're looking for, you are sure to find
it at Audio Book Club...and you'll also find one great deal! Join Audio Book
Club today and get 4 audiobooks for only 1 Penny. Click here for more
details.
Positive Living Tip of the Day
Wednesday December 13, 2000
Assert Yourself At Work
Do you feel taken advantaged at your job? Are you being handed other people's
work? If so, it's time for you assert yourself and set boundaries to keep
your sanity.
People who are considered the "saviors" on the job often have a fear of
rejection or are "people pleasers." To keep your sanity in check, you must be
willing to "rock the boat." Quitting is not the answer, because this scenario
will probably occur again in your next job. It is you who is creating
problems for you--not other people.
Assert yourself by talking to your supervisor about how you feel about the
situation and how you wish to resolve it. (Have a solution in mind BEFORE you
approach your boss.) You'll feel better once you take some control over a
situation. Do not let your emotions keep you from gaining some control in
your work. This is where stress comes from: "The lack of control."
- CG, Licensed Clinical Professional Counselor
Email this tip to a friend - Browse the Archives
Have a question for the writer of this tip? Please send it to us by clicking
on the feedback button! This tip is in no way a substitute for professional
advice. If you are dealing with a serious issue, please consult your
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|
davis-d/discussion_threads/359.
|
|
<15645826.1075860382131.JavaMail.evans@thyme>
|
Archive Log for 5/19/99 5:08:12 PM
|
[] |
[] |
[] | 1980-01-01T00:00:00Z
|
List of projects (created by Mary Hain/HOU/ECT on 3/15/99)
|
hain-m/all_documents/1354.
|
|
<10157026.1075855248617.JavaMail.evans@thyme>
|
Midway Grove Declaration and Bylaws
|
[] |
[
"[email protected]"
] |
[
"[email protected]"
] | 2001-08-09T19:43:14Z
|
Attached are the most recent blacklines of the Declaration and Bylaws of
the Midway project. The Articles did not change. These changes were made
after discussions with Chris Boehler and Greg Krause. Please let me know if
I may now send them to Scott Williams. The only thing he may object to is
the lack of strong language guarantying the operation of the storm water
system in Paragraph 3.2.
_______________________________________________________________
The information contained in this transmission may contain
privileged and confidential information. It is intended only
for the use of the person(s) named above. If you are not the
intended recipient, you are hereby notified that any review,
dissemination, distribution or duplication of this
communication is strictly prohibited. If you are not the
intended recipient, please contact the sender by reply email
and destroy all copies of the original message.
To reply to our email administrator directly, please send an
email to [email protected].
<<Blackline of Bylaws - Midway_v1.DOC>> <<Blacklilne of Midway
Declaration 8901_v1.DOC>>
|
mann-k/midway/45.
|
|
<4205700.1075853346491.JavaMail.evans@thyme>
|
Re: additional contracts
|
[
"[email protected]"
] |
[] |
[] | 2001-06-12T14:14:00Z
|
----- Forwarded by Dan J Hyvl/HOU/ECT on 06/12/2001 02:14 PM -----
[email protected]
06/11/2001 11:18 AM
To: [email protected]
cc: [email protected], [email protected], [email protected],
[email protected]
Subject: Re: additional contracts
(See attached file: Environmental Services Agreement Form.doc)(See attached
file: General Services & Maintenance Agreement Form.doc)(See attached file:
Master Service Agreement Form.doc)(See attached file: Project Services
Agreement Form.doc)(See attached file: Services Agreement Form.doc)
Stephen Schneider
06/11/2001 11:16 AM
To: Molly L Carriere/HO1/AEPIN@AEPIN
cc: William A Sheridan/HO1/AEPIN@AEPIN, Nicolas S
Cocavessis/HO1/AEPIN@AEPIN, [email protected], Ronald A
Green/HO1/AEPIN@AEPIN
Subject: Re: additional contracts
Here are the new contract forms to utilize. Stepheny Augustus will be
responsible to create the necessary contracts and to approve all
contractual rates as invoices are received. Please coordinate with
Stepheny to have all contracts created.
---------------------- Forwarded by Stephen Schneider/HO1/AEPIN on
06/11/2001 11:12 AM ---------------------------
[email protected] on 06/11/2001 09:12:16 AM
To: [email protected]
cc:
Subject: Re: additional contracts
Please review the four which I have changed from Enron Company to Houston
Pipe Line Company. Call if you need anything further. I intend to be over
there next Monday.
(See attached file: 2001-AFS Form.doc)(See attached file: 2001-ESA
Form.doc)(See attached file: Apsblank.doc)(See attached file: Msablank.doc)
(See attached file: 2001-AFS Form.doc)
(See attached file: 2001-ESA Form.doc)
(See attached file: Apsblank.doc)
(See attached file: Msablank.doc)
- Environmental Services Agreement Form.doc
- General Services & Maintenance Agreement Form.doc
- Master Service Agreement Form.doc
- Project Services Agreement Form.doc
- Services Agreement Form.doc
- 2001-AFS Form.doc
- 2001-ESA Form.doc
- Apsblank.doc
- Msablank.doc
|
hyvl-d/sent/1081.
|
|
<28240521.1075856164490.JavaMail.evans@thyme>
|
RE:
|
[
"[email protected]"
] |
[] |
[] | 2001-04-18T14:12:00Z
|
thanks
|
kuykendall-t/all_documents/120.
|
|
<19313841.1075852413904.JavaMail.evans@thyme>
|
RE:
|
[
"[email protected]"
] |
[] |
[] | 2001-10-29T15:55:50Z
|
still hoochi clothes? cool!
-----Original Message-----
From: Villarreal, Alexandra
Sent: Monday, October 29, 2001 9:55 AM
To: Griffith, John
Subject: RE:
well, no hoochie shoes anyway.
-----Original Message-----
From: Griffith, John
Sent: Monday, October 29, 2001 9:54 AM
To: Villarreal, Alexandra
Subject: RE:
I hope that you foot is okay. You need to be careful. I liked the shoes though. It is too bad you can't wear heels. You look really good in them. I guess no more hoochi wear for right now huh?
-----Original Message-----
From: Villarreal, Alexandra
Sent: Monday, October 29, 2001 8:47 AM
To: Griffith, John
Subject: RE:
wearing those heels yesterday was a bad idea. they were killing me all night. i had to take them off. and then when i woke up this morning my ankle was swollen and bruised. went to the dr earlier and she said i most likely injured a tendon or ligament. great. no heels for a while.
-----Original Message-----
From: Griffith, John
Sent: Monday, October 29, 2001 8:28 AM
To: Villarreal, Alexandra
Subject:
Hello?
|
griffith-j/deleted_items/862.
|
|
<24960784.1075852152741.JavaMail.evans@thyme>
|
Re: Bike to the Coast
|
[
"[email protected]"
] |
[] |
[] | 2001-09-21T02:47:08Z
|
just let me know what you need me to do!!!!!!! I can help w/ cooking,
too...been on antibiotics all this week so am no longer infectious, even
is i still sound like shat! :)
:)C
Catherine Kocarek Jewett
Department of Internal Medicine
Harborview Medical Center, Emergency Department
Seattle, WA 98195
|
dean-c/inbox/637.
|
|
<32057915.1075842283303.JavaMail.evans@thyme>
|
Re: EWEB gas sale
|
[
"[email protected]"
] |
[
"[email protected]",
"[email protected]"
] |
[
"[email protected]",
"[email protected]"
] | 2001-04-30T10:30:00Z
|
Dave,
I will be glad to generate the form of Transaction Agreement; however, I
have a number of questions.
1. Relationship of Delivery Point and the use of Interruptible Transport on
Northwest Pipeline. Is the transport upstream or downstream of the delivery
point? If downstream, why isn't it being contracted for by EWEB.
2. What volume is being sold each day. You use the term DCQ and you also
talk about a 20% tolerance above or below the estimated quantity. Normally
their would be no tolerance with a DCQ transaction.
3. Is this envisioned to be a requirements transaction. Is the price the
same for volumes in excess of the estimated quantity up to an additional
20%. Is no penalty to apply if the actual volumes are 0% to 20% less than
the estimated quantity? What if they take more than 20% in excess without
making any arrangements for incremental gas. What price is to be used for
such non scheduled excess volumes?
Please call me regarding the foregoing so that I can start to work on the
transaction agreement.
Dave Fuller
04/29/2001 12:14 PM
To: Dan J Hyvl/HOU/ECT@ECT
cc: Mark Whitt/NA/Enron@Enron, Steven P South/Enron@EnronXGate
Subject: EWEB gas sale
Dan,
The attached term sheet describes a gas sale we are proposing to the Eugene
Water and Electric Board. Please have a look and let me know how you think
the actual confirm should look. They have an Enfolio in legal review now.
Thanks,
Dave
|
hyvl-d/sent/480.
|
|
<14822463.1075856127090.JavaMail.evans@thyme>
|
Fw: : First Time Golfer
|
[
"[email protected]"
] |
[] |
[] | 2001-05-11T09:49:00Z
|
---------------------- Forwarded by Sandra F Brawner/HOU/ECT on 05/11/2001
09:49 AM ---------------------------
"Jon Schnitzer" <[email protected]> on 05/11/2001 09:27:21 AM
To: "Suzann Schnitzer" <[email protected]>, "susan schnitzer"
<[email protected]>, "skushnick" <[email protected]>,
"Sandra F Brawner" <[email protected]>, "Schnitzer, Harry"
<[email protected]>, <[email protected]>, "Mike Bilotti"
<[email protected]>, "lance jordan" <[email protected]>,
<[email protected]>, "john shaw" <[email protected]>, "jeremy davis"
<[email protected]>, "gerardo ruiz" <[email protected]>, "david dunnavandt"
<[email protected]>, "Chris Paul" <[email protected]>, "Brian
York" <[email protected]>, "anrew o ertel" <[email protected]>
cc:
Subject: Fw: : First Time Golfer
----- Original Message -----
From: "Hollier, Diana" <[email protected]>
To: <[email protected]>
Sent: Friday, May 11, 2001 8:54 AM
Subject: FW: : First Time Golfer
> ?
> -----Original Message-----
> From: [email protected] [mailto:[email protected]]
> Sent: Friday, May 11, 2001 8:51 AM
> To: Meyers, Tim; [email protected]; [email protected];
[email protected]; Hollier, Diana;
[email protected]
> Subject: : First Time Golfer
>
>
>
- Inexperienced Golfer.jpg
|
brawner-s/discussion_threads/125.
|
|
<26758243.1075841571375.JavaMail.evans@thyme>
|
Start Date: 1/22/02; HourAhead hour: 14;
|
[
"[email protected]"
] | 2002-01-22T19:37:15Z
|
Start Date: 1/22/02; HourAhead hour: 14; No ancillary schedules awarded. No variances detected.
LOG MESSAGES:
PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002012214.txt
|
solberg-g/deleted_items/331.
|
|||
<12368437.1075848042730.JavaMail.evans@thyme>
|
Commerce Committee Letter
|
[
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]"
] |
[] |
[] | 2001-03-30T18:42:00Z
|
----- Forwarded by Jeff Dasovich/NA/Enron on 03/30/2001 06:41 PM -----
Jean Munoz <[email protected]>
03/30/2001 01:31 PM
To: "'Andy Brown (E-mail)'" <[email protected]>, "'B Brown Andy (E-mail)'"
<[email protected]>, "'Baker Carolyn (E-mail)'"
<[email protected]>, "'Bob Escalante (E-mail)'"
<[email protected]>, "'Bob Weisenmiller (E-mail)'"
<[email protected]>, "'Curtis Kebler (E-mail)'"
<[email protected]>, "Dean. Nistetter (E-mail)"
<[email protected]>, "'Douglas Kerner (E-mail)'" <[email protected]>,
"'Greg Blue (E-mail)'" <[email protected]>, "'Jan Smutny-Jones (E-mail)'"
<[email protected]>, "'Jeff Dasovich (E-mail)'" <[email protected]>,
"'Joe Ronan (E-mail)'" <[email protected]>, "'John Larrea (E-mail)'"
<[email protected]>, "'John Stout (E-mail)'"
<[email protected]>, "'Julee Malinowski-Ball (E-mail)'"
<[email protected]>, "'Kassandra Gough (E-mail)'" <[email protected]>, "'kent
Palmerton (E-mail)'" <[email protected]>, "'Lynn Lednicky
(E-mail)'" <[email protected]>, "Marie Moretti (E-mail 2)"
<[email protected]>, "'Marty Wilson (E-mail)'"
<[email protected]>, "'McNally Ray (E-mail)'"
<[email protected]>, "''Nam Nguyen' (E-mail)'"
<[email protected]>, "'Norton Kelli (E-mail)'"
<[email protected]>, "'Paula Hall-Collins (E-mail)'"
<[email protected]>, "'Pigott Jack (E-mail)'"
<[email protected]>, "'Richard Hyde (E-mail)'" <[email protected]>,
"'Roger Pelote (E-mail)'" <[email protected]>, "'Stephanie-Newell
(E-mail)'" <[email protected]>, "'Sue Mara (E-mail)'"
<[email protected]>, "'Tom Ross (E-mail)'" <[email protected]>, "Tom
Williams (E-mail)" <[email protected]>, "'Alex Sugaoka (E-mail)'"
<[email protected]>, "'Bill Carlson (E-mail)'"
<[email protected]>, "'Bill Woods (E-mail)'"
<[email protected]>, "'Bob Ellery (E-mail)'" <[email protected]>, "'Bob
Gates (E-mail)'" <[email protected]>, "'Cody Carter (E-mail)'"
<[email protected]>, "'Curt Hatton (E-mail)'"
<[email protected]>, "'David Parquet'" <[email protected]>,
"'Dean Gosselin (E-mail)'" <[email protected]>, "'Doug Fernley (E-mail)'"
<[email protected]>, "'Duane Nelsen (E-mail)'"
<[email protected]>, "'Ed Tomeo (E-mail)'" <[email protected]>,
"'Eileen Koch (E-mail)'" <[email protected]>, "'Eric Eisenman (E-mail)'"
<[email protected]>, "'Frank DeRosa (E-mail)'"
<[email protected]>, "Frazier Blaylock (E-mail)"
<[email protected]>, "'Hap Boyd (E-mail)'"
<[email protected]>, "'Hawks Jack (E-mail)'" <[email protected]>, "'Jim
Willey (E-mail)'" <[email protected]>, "'Joe Greco (E-mail)'"
<[email protected]>, "'Jonathan Weisgall (E-mail)'"
<[email protected]>, "'Kate Castillo (E-mail)'" <[email protected]>,
"'Kelly Lloyd (E-mail)'" <[email protected]>, "'Ken Hoffman (E-mail)'"
<[email protected]>, "'Kent Fickett (E-mail)'"
<[email protected]>, "'Lynn Lednicky (E-mail)'"
<[email protected]>, "'Marty McFadden (E-mail)'"
<[email protected]>, "'Paula Soos'"
<[email protected]>, "'Randy Hickok (E-mail)'"
<[email protected]>, "Rick S. Koebbe (E-mail)"
<[email protected]>, "'Rob Lamkin (E-mail)'"
<[email protected]>, "'Ross Ain (E-mail)'" <[email protected]>,
"'Steve Iliff'" <[email protected]>, "'Steve Ponder (E-mail)'"
<[email protected]>, "'Tony Wetzel (E-mail)'" <[email protected]>,
"'William Hall (E-mail)'" <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
Katie Kaplan <[email protected]>, <[email protected]>,
<[email protected]>
cc:
Subject: Commerce Committee Letter
FYI, if you haven't already seen this, Congressional Democrats on the
Commerce Committee are leading an effort to send the attached letter to
President Bush.
Thanks,
Jean
--
Jean Munoz
McNally Temple Associates, Inc.
916-447-8186
916-447-6326 (fx)
______________________________________________________________________________
____
> The Californian Members of the Energy and Commerce Committee, Reps.
> Waxman, Eshoo, Capps, and Harman would like to encourage the Caucus to
> sign the attached letter to the President urging the President to
> intervene at FERC. The letter asks the President to support the
> Governor's request regarding wholesale electricity sales this summer and
> to investigate recent allegations of overcharges.
>
> March 29, 2001
>
> The Honorable George W. Bush
> The President
> The White House
> Washington, DC
>
> Dear Mr. President:
>
> We are writing because our constituents and millions of
> Americans across the West need your intervention at the Federal Energy
> Regulatory Commission (FERC) in order to address serious problems with the
> Western energy market.
>
> As you know, California has been experiencing an electricity
> crisis that has resulted in blackouts throughout the state, inconvenienced
> millions of citizens and businesses, and disrupted the state's and
> region's economy. Indeed, this crisis seriously threatens to cause
> long-term damage to the economy of California, the Western region, and
> perhaps the entire country.
>
> The crisis is the result of a dysfunctional energy market
> where wholesale prices of electricity have spiked exorbitantly. For
> example, wholesale prices on December 15, 2000, ranged from $429 per Mwh
> to $565 per Mwh, compared to prices from $12 per Mwh to $29 per Mwh one
> year earlier. Wholesale prices have jumped as high as $1400 per Mwh. In
> fact, the California Independent System Operator (ISO), the state's power
> grid operator, has projected that electricity which cost $7 billion in
> 1999 will cost $70 billion this year. These skyrocketing prices can only
> partly be explained by natural gas price increases and increased energy
> demand.
>
> These exorbitant price spikes have led FERC Commissioner
> William L. Massey to state on February 8, 2001:
>
> These high prices serve only to continue a massive wealth
> transfer out of the region. Is it worth dragging down an entire regional
> economy, or perhaps even the national economy, for the theoretical purity
> of unfettered price signals? I say no. I call on my fellow commissioners
> to consider a time out now. It's our statutory obligation. . . . FERC's
> timidity and hands-off approach is eroding consumer confidence and
> destroying the consensus that heretofore supported a market based
> approach.
>
>
> The dysfunctional nature of the market has apparently
> allowed it to be manipulated. The California ISO last week presented FERC
> with findings of a comprehensive study of pricing data in California's
> wholesale electricity market over the last 10 months. According to the
> Los Angeles Times, the ISO's study found "evidence of market manipulation
> and consistent patterns of bidding far above costs" and that "suppliers
> commonly offered electricity at twice their costs." The ISO has estimated
> the cost of the potential overcharges between May 2000 and last month are
> high as $6.3 billion.
>
> Unfortunately, FERC actions have fallen far too short. To
> date, FERC has not aggressively worked to address market manipulations,
> despite finding last fall that wholesale prices were not "just and
> reasonable." Nor is FERC apparently willing to seriously consider
> addressing runaway wholesale rates.
>
> The state of California is taking heroic measures, but this
> is an issue California cannot address alone. In a February 28, 2001,
> meeting with the California delegation, FERC Chairman Curt Hebert
> confirmed the widespread understanding that the California market is not
> working. He called the California market "broken," and acknowledged the
> regional problems posed by the market. Additionally, Chairman Hebert
> stated that "I don't think there is any way California can pull itself out
> of this thing alone." As Mr. Hebert knows, California has no authority
> over wholesale electricity sales. These sales fall solely within the
> jurisdiction of the federal government.
>
> Despite FERC's recognition that California cannot address
> this problem alone, FERC seems unwilling to assist California and the
> West. FERC's March 9th order sets the arbitrary expectation that unjust
> and unreasonable prices cannot occur in the absence of a Stage 3
> Emergency. Energy economist Severin Borenstein has stated that this
> expectation "defies economic logic." The March 9th order is also
> inconsistent with FERC's December 15 order and ignores the fact that when
> market power exists, prices can be unreasonable even when supply is not
> within 1.5% of demand.
>
> Mr. President, you have the authority to rein in the impacts
> of this dysfunctional market and protect the citizens of California from
> exorbitant wholesale price spikes. In October 2000, when you were in
> California, you stated, "I believe so strongly that part of this region is
> going to suffer unless you have a president who is willing to tell the
> FERC to do what is right for the consumer." Now, we are respectfully
> calling upon you to do just that.
>
> This is not a partisan issue. At the Western Governors
> Association meeting in early February, eight Western governors -- three
> Democrats and five Republicans -- requested that the Administration
> immediately impose wholesale price caps throughout the region. Governor
> Davis of California, Governor Kitzhaber of Oregon, and Governor Locke of
> Washington have now reiterated this request to FERC with a short-term
> pragmatic proposal that will preserve adequate incentives to attract
additional generation.
>
> We believe that electricity generators should make a
> reasonable profit and that these profits should be sufficient to encourage
> the development of needed generation. Federal action to temporarily
> intervene in California's failed wholesale market can accommodate these
> needs. Governors Davis, Kitzhaber, and Locke have referenced Commissioner
> Massey's suggestion of a temporary cost-based price cap on spot market
> sales in the Western interconnection, combined with an exemption for new
> generation sources to ensure that new sources of energy are encouraged.
> Such an approach could reinstate consumer confidence in wholesale sales,
> ensure generators receive sufficient market signals, and prevent future
economic hemorrhaging in the West.
Mr. President, we request that you help protect California's
economy, and indeed that of the Western region and the nation. Please
support the Governors' request on wholesale rates, investigate the recent
allegations of overcharges, and act to prevent a dysfunctional electricity
market from damaging our constituents and a major engine of the nation's
economy.
Sincerely,
|
kean-s/california/229.
|
|
<25828483.1075841002337.JavaMail.evans@thyme>
|
Start Date: 4/6/01; HourAhead hour: 9; <CODESITE>
|
[
"[email protected]"
] | 2001-04-06T09:05:00Z
|
Start Date: 4/6/01; HourAhead hour: 9; No ancillary schedules awarded. No
variances detected.
LOG MESSAGES:
PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040609.txt
---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
Details:
TRANS_TYPE: FINAL
SC_ID: ECTRT
MKT_TYPE: 2
TRANS_DATE: 4/6/01
TIE_POINT: PVERDE_5_DEVERS
INTERCHG_ID: EPMI_CISO_SCOUT
ENGY_TYPE: WHEEL
*** Final schedule not found for preferred schedule.
Details:
TRANS_TYPE: FINAL
SC_ID: ECTRT
MKT_TYPE: 2
TRANS_DATE: 4/6/01
TIE_POINT: SLVRPK_7_SPP
INTERCHG_ID: EPMI_CISO_SCOUT
ENGY_TYPE: WHEEL
|
linder-e/all_documents/226.
|
|||
<8456108.1075851690843.JavaMail.evans@thyme>
|
Pipeline Contractors
|
[
"[email protected]"
] |
[
"[email protected]",
"[email protected]"
] |
[
"[email protected]",
"[email protected]"
] | 2001-05-09T14:59:00Z
|
I got this message for a contractor that might be interested in working with
us on the lateral. Steve Thome had good luck with them on a water line and
wanted to pass the name along. He also called and mentioned a guy who is
with an Enron affiliate - Northern Border - and is interested in a pipeline
spur as well. His phone number is 303-575-6479. May be helpful to keep it
in the Enron family.
---------------------- Forwarded by Rusty Stevens/Corp/Enron on 05/09/2001
02:49 PM ---------------------------
From: Stephen Thome/ENRON@enronXgate on 05/08/2001 10:10 AM
To: Rusty Stevens/Corp/Enron@ENRON
cc:
Subject: Pipeline Contractors
Rusty,
Here is the contact for our pipeline contractor:
Clark Ashton
Rooney Engineering
1418 Millstream Lane
Salt Lake City, UT 84106
801-463-7981
Clark is the business development guy. He is well connected in the power
industry (he used to work for NEPCo). I believe Rooney specializes in
pipeline installation - they certainly are extremely knowledgeable. I
suggest you contact Clark to find out more.
Steve
|
weldon-c/discussion_threads/189.
|
|
<32206779.1075860910592.JavaMail.evans@thyme>
|
Issue with San Juan Historic Volatility
|
[
"[email protected]"
] |
[] |
[] | 2002-02-12T23:14:54Z
|
Kim,
I wanted to forward you this email that I sent to Vince. He had come back to Richard and I to resolve an issue with the dropping VaR associated with TW. Vince was asking if this was related to the processes that we have automated. In speaking with Vernon, the date of the ERMS problem with the San Juan basis discussed below happened to coincide with the date or near proximity of the unwinding the Wholesale positions that TW had held. Consequently, there were substantial changes with the VaR increasing during this period. When the rolling price data dropped off, it rolls for 30 days, the VaR decreased substantially. If you have any questions please give me a call.
Sean
713-287-1014
-----Forwarded by Sean Bolks/HOU/Dynegy on 02/12/2002 05:01PM -----
To: [email protected]
From: Sean Bolks/HOU/Dynegy
Date: 02/12/2002 04:58PM
cc: Richard Riehm/HOU/Dynegy
Subject: Issue with San Juan Historic Volatility
Vince,
I left you a message concerning the issue with the VaR. The problem is associated with the ERMS Price that came on December 19. The basis was .23 instead of -.23. This is represented in SJ Price Quote File below. Consequently the inclusion of this date in the rolling 30 day bucket for the Historical Volatility calculation essentially changed the volatility for the entire Winter 2002-2003 strip. Any I-I deal involving the San Juan was thus flawed and shown in the VaR.
As this did occur on December 19th, this should have been caught in the December time period for any VaR report done on a daily basis since that time. For example, the San Juan Historical Volatility was .395 on December 17, .394 on December 18, .521 on December 19 and .657 on December 20. The VaR went up in the same way it came down-- on Feb 4 it was .66, on Feb 5 it was .52, on Feb 6 it was .357 and on Feb 7 it was .343. This is shown in the attached file San Juan Hist Vol.
As Richard and I do the base calculations, which are correct, we would never catch this mistake. We are somewhat surprised that when this volatility was included on December 19th the VaR report did not show a substantial increase from the previous day. In the same way the VaR dropped by half, we would have expected it to double over a period of a couple of days in that week of December.
All in all, this issue took 10 hours for Richard and I to resolve. As it is essentially out of the perview of setting up the SAS automation process--the process did run correctly, it was a little frustrating for us to devote the time to identifying this particular issue. It would also appear to be a troubling issue from a financial perspective given the current Enron environment.
I hope this resolves the problem.
Sean
|
watson-k/questar/27.
|
|
<7272936.1075862037187.JavaMail.evans@thyme>
|
RE:
|
[
"[email protected]"
] |
[] |
[] | 2001-11-21T16:12:37Z
|
what do you mean
-----Original Message-----
From: Nelson, Michelle
Sent: Wednesday, November 21, 2001 10:11 AM
To: Maggi, Mike
Subject:
so can you give me the name of sarah's lawyer?
|
maggi-m/deleted_items/1433.
|
|
<24541648.1075846747614.JavaMail.evans@thyme>
|
Apartment Lease
|
[
"[email protected]"
] |
[] |
[] | 2000-11-22T19:06:00Z
|
Hey Chris,
I was wondering if there was a fax number at the base so that my apartment
complex can send you some info. regarding getting your name taken off of our
lease. If there is, just shoot me off an email with the number and I'll pass
it along to them.
Hope things are going well and that you're not too homesick with Thanksgiving
and all. I have a feeling I will be talking to you guys tomorrow along with
both of our parents and extended family members. Have a great holiday and
root on the Horns ( I think this is going to be a tough one).
Love,
Susan
|
scott-s/all_documents/1163.
|
|
<11738054.1075849322726.JavaMail.evans@thyme>
|
RE: trying to locate PX Credit information
|
[
"[email protected]"
] |
[
"[email protected]",
"[email protected]",
"[email protected]"
] |
[
"[email protected]",
"[email protected]",
"[email protected]"
] | 2001-07-16T17:27:00Z
|
Jeff,
Diann Huddleson has spoken with PG&E on numerous occasions, and they have
confirmed that effective as of January 19, 2001, they began using a Weighted
Average cost of Generation/Purchase for the calculation of the PX amount. I
will coordinate between Tamara and the Services group which has this
information and make sure everyone is on the same page. I also support
Tamara's desire to reconcile, at a tariff level, the curves to actual utility
bills.
Thanks,
Wanda
-----Original Message-----
From: Dasovich, Jeff
Sent: Monday, July 16, 2001 5:00 PM
To: Curry, Wanda; Tribolet, Michael
Cc: Kingerski, Harry; Lawner, Leslie; Steffes, James; Mara, Susan
Subject: trying to locate PX Credit information
Hi Wanda/Michael. You aware of this? I don't recall having received
anything from PG&E.
Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 07/16/2001 04:57 PM -----
Tamara Johnson@EES 07/16/2001 04:19 PM To: JMB <[email protected]>, Harry
Kingerski/Enron@EnronXGate, Jeff Dasovich/NA/Enron@Enron, Leslie
Lawner/Enron@EnronXGate, James D Steffes/NA/Enron@Enron, Diann
Huddleson/HOU/EES@EES, Mary Lynne Ruffer/HOU/EES@EES cc: Subject: trying
to locate PX Credit information
PG&E has changed the method of calculating the PX Credit recently. Prior to
June they appeared to be using a market based price for power, but in June
the credit dropped to about $40/MWh which looks like utility-owned gen.
We want to make sure we are not missing a utility-levied charge in our
forward curves ( e.g. CTC charge that will be applied to DA) so we're trying
to verify the utilities' method of calculating PX credits.
I talked to the PG&E accounting person who said that their Regulatory group
has sent Enron's regulatory group information on the way the PX Credit is
calculated. Can someone locate this information and forward it to me as soon
as possible? Given that our customers are all switching to DA we don't want
to discover there's a charge we don't know about.
Thanks,
Tamara.
|
dasovich-j/all_documents/28787.
|
|
<30038708.1075854094533.JavaMail.evans@thyme>
|
HPL Nom for Sept. 13, 2000
|
[
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]"
] |
[] |
[] | 2000-09-12T10:54:00Z
|
(See attached file: hpl0913.xls)
- hpl0913.xls
|
farmer-d/discussion_threads/2128.
|
|
<15374720.1075861502914.JavaMail.evans@thyme>
|
Enron Mentions
|
[] |
[] |
[] | 2001-11-02T14:15:49Z
|
Houston, we have a problem
The Economist, 11/03/01
Enron Gets $1 Billion New Credit Line, But Must Pledge Top Gas-Pipeline Assets
The Wall Street Journal, 11/02/01
Enron's Shares Fall and Debt Rating Is Cut
The New York Times, 11/02/01
The State CalPERS Is Urged to Challenge Enron Finance: The public employee pension fund holds 3 million shares of the energy firm, whose stock has plunged. State senator calls for action.
Los Angeles Times, 11/02/01
Financing Offers Lure Buyers
The Washington Post, 11/02/01
COMPANIES & FINANCE THE AMERICAS: Enron's dominant position is fuelling fears for markets: John Labate and Julie Earle consider the implications of the company's woes:
Financial Times; Nov 2, 2001
COMPANIES & FINANCE THE AMERICAS: Dollars 1bn line of credit secured to pay debt
Financial Times; Nov 2, 2001
WORLD STOCK MARKETS: Wall St buoyed by Microsoft peace talks
Financial Times; Nov 2, 2001
Enron gets $1 billion
Financial Times; Nov 2, 2001
USA: WRAPUP 2-Enron lines up cash to soothe worried Wall Street.
Reuters English News Service, 11/02/01
ENRON CORP.: Credit rating cut again; $1 billion secured
Chicago Tribune, 11/02/01
India ONGC Plans Enron Oil,Gas Field Bid If BG Deal Fails
Dow Jones Energy Service, 11/02/01
Enron May Sell India Dabhol Power Shr At Discount-Lender
Dow Jones International News, 11/02/01
`Buying out Enron's stake in Dabhol unit won't help'
The Times of India, 11/02/01
Dabhol lenders' meet in London cancelled
Business Standard, 11/02/01
USA: Critics question Andersen's handling of Enron.
Reuters English News Service, 11/01/01
Enron: Online Trading Volume Sees Normal Decline Thursday
Dow Jones Energy Service, 11/01/01
Power supplier Enron's stock drops another 14 percent
Associated Press Newswires, 11/01/01
USA: UPDATE 1-S&P cuts Enron ratings, may cut ratings again.
Reuters English News Service, 11/01/01
Enron's Credit Rating Cut After $1 Bln Loan Secured (Update9)
Bloomberg, 11/01/01
USA: Enron U.S. energy trade so far skirts credit woes.
Reuters English News Service, 11/01/01
INDIA PRESS:Dabhol Creditors Meeting In London Called Off
Dow Jones International News, 11/01/01
Finance & Economics
Houston, we have a problem
11/03/2001
The Economist
Copyright (C) 2001 The Economist; Source: World Reporter (TM) - FT McCarthy
The troubles of Enron, a Texan powerhouse in the energy markets, could result in a new financial crisis
JUST last year, visitors to Enron's glittering headquarters in Houston were greeted by a giant banner that proclaimed the firm, "The world's leading energy company". That annoyed Enron's smaller energy-trading rivals, many of which have offices only a stone's throw away in Houston's Energy Alley, but not as much as what came next - a new banner, declaring Enron "The world's leading company". In recent weeks, as the company has been engulfed by a financial crisis, that banner has quietly been removed.
The heady mix of audacity, ambition and arrogance revealed by the banners is as good a guide as any to Enron's remarkable rise and fall. Forged in the 1980s by the merger of two troubled gas-pipeline firms, Enron drove the development of the sophisticated spot-and-derivatives markets in energy that it has come to dominate. Indeed, such is the scale of its operations, and its dealings with many of the world's financial institutions, that some observers see parallels with Long-Term Capital Management (LTCM), the hedge fund that failed in 1998 - and not just because seemingly brilliant financial alchemists have been humbled. Were Enron to go bust - unlikely, but in the current nervous climate, not impossible - might a crisis ensue?
Troubles in California's politically crazed power market, an ill-advised foray into telecoms bandwidth trading and concerns about management badly dented Enron's share price earlier this year, prompting the departure of Jeffrey Skilling, the firm's newish chief executive, in August. Kenneth Lay, an avid free-marketeer, friend of George Bush and visionary chairman of the firm, was obliged to resume hands-on control.
This has not slowed Enron's decline. Day by day, it seems to be sinking deeper into a financial quagmire that is largely of its own creation. Not least thanks to its lack of transparency, the firm's credibility with the markets has eroded to the point that talk of a possible takeover or even bankruptcy is widespread.
Enron's reputation for financial wizardry has been turned from an asset to a liability since its third-quarter results came out in mid-October, showing a $1 billion write-off on water distribution, broadband trading and other investments. Worse, disclosed only in passing by Mr Lay in a conference call with analysts, the firm suffered a $1.2 billion reduction in capital, stemming from a hedging deal with a related private-equity fund called LJM. The charge was due to Enron's forced sale of 55m of its own shares when the partnership was unwound this summer. Almost nobody outside Enron had been aware of the terms of the deal with LJM, a "structured finance vehicle".
Enron's failure to offer details about the risks from other related partnerships have led many to fear the worst about its huge balance sheet. Its shares plunged by 19% on October 30th alone (see chart on next page), before recovering a bit the next day.
Andrew Fastow, who was replaced as chief financial officer on October 24th, was a general partner in LJM. Jeffrey McMahon, his successor, has much to do to restore confidence. Questions abound. Were the trusts run at arm's length? What did Mr Fastow earn from the partnership? Ominously, the Securities and Exchange Commission (SEC) has now launched a formal inquiry.
Moody's, a rating agency, last week cut its rating on the company's debt to barely above "junk" level. Further downgrades might unleash claims from other off-balance-sheet partnerships. Those known about, such as Atlantic Water and Marlin Water, do not seem big enough to bankrupt Enron, but speculation is rife about what other obligations might lurk secretly in other structured vehicles.
A lower credit rating could destroy Enron's core franchise as the leading energy middleman, by scaring away customers and freezing the wholesale energy markets. That might have nasty consequences in other markets. Enron acknowledges that it is a large participant in the derivatives market, holding a portfolio with a notional value of $21 billion. Rightly or wrongly, many traders believe that figure vastly understates Enron's presence. If the firms on the other side of Enron's trades start to fear that payment is not coming, they might curb their other trading, producing a knock-on effect. Where this could end up is a subject of much conjecture.
Utilities that trade energy could be hit. So could the commodity and derivative operations of large commercial and investment banks. The ties are notably tight between Enron and J.P. Morgan Chase, according to Ventana Capital, a research firm. Not only does J.P. Morgan provide innumerable separate credit arrangements for Enron; it also has the largest derivative operation of any bank, as well as a large business trading commodities. There is "no doubt" that Enron is on the other side of many J.P. Morgan trades, says Ventana.
Were Enron to fail, Ventana thinks "it has the potential to cause a major financial crisis", worse, in some ways, than what occurred after LTCM. That merely froze the debt markets temporarily, whereas Enron deals in the building-blocks of the American economy. Imagine gridlock in the markets for gas, timber, coal, metals, fertiliser, bandwidth or indeed any of the products Enron deals in.
As yet, this all seems unlikely. Many big traders were happy to deal with Enron this week, although at shorter maturities and with less complex structures than in the past. Trading on EnronOnline was reportedly strong. Jim Donnell of Duke Energy, a big energy trader, described "a huge dichotomy" between the collapse in confidence in Enron in the equity and credit markets and the "business as usual" attitude taken by big commodity trading firms when considering Enron as a counterparty.
Yet as questions about Enron's credit-standing spread this week, it began to have difficulty making markets in some instruments. Few firms would accept Enron's name as guarantor of a credit derivative. In its core energy markets some big trading counterparties refused the Enron name. On the Intercontinental Exchange (ICE), two houses reportedly specified that they would not take Enron's credit.
The biggest credit exposure appeared to be with banks, whose $3 billion of back-up lines to Enron were drawn down last week. J.P. Morgan arranged an additional $1 billion emergency credit-line this week. This back-up, it is widely assumed, is needed mainly to meet margin calls triggered by the ratings downgrade.
Too big to fail?
Is Enron too big and too important to be allowed to fail? Philip Verleger, an energy economist, thinks that Enron is so central to energy markets that it could not easily be replaced. Enron's rivals mostly disagree, unsurprisingly.
But even Enron's worst enemies do not (yet) expect the firm to die from its current crisis. Most traders seem keen that it should live. "Nobody likes to see a wholesale trader disappear," says one. They admire Enron's armies of traders and their ability to do deals. EnronOnline is one of the Internet's few success stories, assuming its huge trading volumes do indeed generate big profits, as the firm claims.
Enron's, and the financial system's, problems could worsen if doubts grow about its ability to meet its obligations. On the surface it is rich in assets, if not cash. But its lack of transparency leaves uncomfortable room for doubt. In June 2000, The Economist challenged Mr Lay to reply to accusations of arrogance, high-handedness and a propensity to push the limits of the law. His response was revealing. To show that such charges were baseless, he pointed to another firm unfairly maligned by critics: Drexel Burnham Lambert, an investment bank that rose from obscurity to market prominence in the junk-bond boom of the 1980s. Drexel was accused of arrogance, he groused, but it was only being "very innovative and very aggressive". Drexel was not bailed out: Michael Milken, its star, ended up in jail, and Drexel collapsed in a heap of bad debts and ignominy.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron Gets $1 Billion New Credit Line, But Must Pledge Top Gas-Pipeline Assets
By Rebecca Smith
Staff Reporter of The Wall Street Journal
11/02/2001
The Wall Street Journal
A4
(Copyright (c) 2001, Dow Jones & Company, Inc.)
Enron Corp. secured $1 billion in new credit lines, but had to pledge its best gas-pipeline assets as collateral. The deal did little to appease an important credit-rating agency.
Standard & Poor's Ratings Group lowered its rating on Enron's long-term debt by one notch to triple-B from triple-B-plus and short-term debt to single-A-3 from single-A-2, citing a belief that Enron's planned sale of assets "will be insufficient to restore its long-term credit quality" to historic levels. Moody's Investors Service Inc. had issued debt downgrades earlier this week.
S&P also lowered ratings on the debt of Enron's pipeline systems, Transwestern Pipeline Co. and Northern Natural Gas Co., that were used to collateralize a $1 billion bank borrowing from J.P. Morgan Chase & Co. and Citigroup Inc.'s Salomon Smith Barney unit. Enron said it would use the money from the 364-day credit lines to refinance roughly $250 million in maturing obligations, leaving it $750 million to boost short-term liquidity.
In dropping the pipeline credit ratings by two notches, S&P noted that the assets have become "more strategic to the company," in part because they can be relied upon to consistently make money, unlike many other Enron hard-asset investments.
The pipelines produced $450 million in gas-transport revenue and an $85 million pretax profit in the third quarter on generally rising rates. That compared with revenue of $424 million for Enron's foreign assets that scraped by with a $19 million earnings contribution.
Todd Shipman, credit analyst for S&P, said there have been concerns that Enron might take on too much debt, trying to prove it has enough cash on hand to meet its energy-trading obligations. But he said S&P wasn't worried by the most recent borrowing, because "we don't think it will be a permanent part of the balance sheet." However, he added that the amount of additional debt it can take on top of the $13 billion it now has outstanding is "little to none." With the sharp fall in its stock price, Enron's market capitalization is now around $10 billion.
An Enron spokesman said "it should be a nonissue" because the company has no intention of borrowing more money anytime soon.
In announcing the borrowing plan, Enron's new chief financial officer, Jeff McMahon, said it was a move to "enhance investor confidence." But stock-market investors reacted otherwise and Enron stock gave up most of Wednesday's gain, closing at $11.99, down $1.91, or 14%, in 4 p.m. New York Stock Exchange composite trading. With many Enron bonds trading at two-thirds of their par value, bondholders didn't seem comforted either.
Enron has been in a defensive posture since it announced a third-quarter loss of $618 million two weeks ago, followed by news that it also took a $1.2 billion equity write-down, based partly on transactions involving a handful of its own officers. The company replaced its chief financial officer, Andrew Fastow, after the Securities and Exchange Commission began an inquiry into related-party transactions. Enron on Wednesday disclosed that the inquiry had been elevated to a formal probe.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Business/Financial Desk; Section C
Enron's Shares Fall and Debt Rating Is Cut
By RICHARD A. OPPEL Jr.
11/02/2001
The New York Times
Page 11, Column 1
c. 2001 New York Times Company
DALLAS, Nov. 1 -- With investors absorbing news of a formal Securities and Exchange Commission investigation and a downgrading by another large credit-rating agency, shares of the Enron Corporation fell 13.7 percent today, giving back most of the gains from Wednesday's rally.
Late on Wednesday, Enron, the energy-trading giant based in Houston, said the S.E.C. had intensified its inquiry into the company's finances, making it a formal investigation, carrying subpoena power.
And today, Standard & Poor's lowered its rating on Enron's senior debt by one notch, leaving it a few notches above junk bond status. The downgrading came after a similar cut by Moody's Investors Service on Monday. S.& P. left Enron under review for a possible further downgrading.
If Enron's credit rating were dropped below investment grade, it could force the company to issue millions of shares of stock to satisfy debts and prompt other big energy-trading concerns to curtail their business with Enron.
S.& P. said that the company's ''financial flexibility has continued to diminish'' and that it had been unable ''to calm investors that are unsure about the strength of Enron's core energy marketing business.'' But the rating agency also said it thought that ''Enron's liquidity position is adequate to see the company through the current period of uncertainty'' and that, so far, ''most counterparties have maintained their trading activity with Enron.''
This morning, Enron said it had obtained $1 billion in additional financing. The line of credit may help the company convince investors and trading partners that it can weather this crisis. But some industry officials said investors might have reacted negatively because Enron had to pledge assets from two subsidiaries, Northern Natural Gas and Transwestern Pipeline, to secure the credit line.
An Enron spokeswoman said that she did not know what interest rates the credit lines carried and that the company had no plans to seek even more financing deals.
Enron's shares have fallen by more than half in the last two weeks because of the S.E.C. investigation and worries about off-balance-sheet debts and transactions with investment partnerships involving the company's former chief financial officer, Andrew S. Fastow, who was ousted last week. Enron shares fell $1.91 today, to $11.99.
Some analysts are beginning to attribute a swift recent rally in natural gas prices in part to the possibility that a collapse of Enron would roil the commodity markets. Enron dominates natural gas and electricity trading in the United States.
In New York today, natural gas for December delivery fell 0.1 cent, to $3.29 for a million British thermal units. The contract has soared from about $2.70 over the last two weeks as Enron's troubles became public.
''Enron has a massive exposure to both the buy side and the sell side in gas and other commodities,'' said Jay Saunders, oil and gas analyst at Deutsche Banc Alex. Brown, ''and if they're at risk financially, then you're exposed to that so you want to cover that risk. Anybody who has Enron as a counterparty in a trade might be concerned about getting paid.''
Mr. Saunders added that other factors had also lifted prices lately, including falling rates of gas being put in storage for use this winter.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
California; Metro Desk
The State CalPERS Is Urged to Challenge Enron Finance: The public employee pension fund holds 3 million shares of the energy firm, whose stock has plunged. State senator calls for action.
NANCY VOGEL
TIMES STAFF WRITER
11/02/2001
Los Angeles Times
Home Edition
B-8
Copyright 2001 / The Times Mirror Company
SACRAMENTO -- A state senator has encouraged the managers of California's public employee retirement fund to challenge, perhaps with a lawsuit, the management of Enron Corp., the high-flying energy company whose stock has plummeted more than 80% in the last year.
The California Public Employee Retirement System, the nation's biggest public pension fund, owns roughly 3 million shares of Enron common stock. Enron shares, once valued at nearly $85, fell $1.91 Thursday to $11.99 on the New York Stock Exchange.
Sen. Steve Peace (D-El Cajon) urged management of CalPERS to deal aggressively with the Houston-based company, which is being investigated by the Securities and Exchange Commission for a potential conflict of interest by its former chief financial officer.
Investors have begun complaining of a paucity of information released by Enron about its financial transactions, and the stock has fallen dramatically in response. On Thursday, a major credit agency, Standard & Poor's, lowered its ratings on Enron, dealing the company another financial blow.
"It is clear that the events surrounding Enron have created a serious lack of confidence in the judgment of Enron's management team," Peace wrote Tuesday in a letter to CalPERS Chief Executive James E. Burton. "It is, therefore, incumbent on CalPERS, as trustee of public employees' ownership rights and as founder of the corporate governance movement, to improve Enron's corporate governance to increase share value."
In an interview, Peace said CalPERS should consider a shareholder lawsuit or join with other shareholders to force out Enron's management. CalPERS provides retirement and health benefits to more than 1.2 million state and local public employees and their families.
Enron officials did not respond to a request for comment on Peace's letter. CalPERS officials said they were considering the letter.
Peace has clashed repeatedly with Enron since the early 1990s, when the company was trying to influence the utility regulators and lawmakers forging a plan to turn California's regulated electricity industry into a competitive market. Peace chaired the legislative committee that crafted deregulation legislation.
"Enron wants a market where consumers have limited knowledge, and they want to operate their business where stockholders have the most limited information possible," Peace said in an interview.
Once a natural gas pipeline company, Enron has grown into the world's largest energy trader.
Besides owning Enron stock, CalPERS has joined with the firm to invest in energy development.
In 1993, CalPERS and Enron each contributed $250 million to an investment fund guided by Enron. When CalPERS ended the partnership in 1997 and sold its position to Enron, it earned $125 million, a 23% return, a CalPERS spokesman said. They teamed up again in 1998, with each putting up $500 million for energy industry investments. Enron tapped $150 million of CalPERS' money before CalPERS' commitment to the partnership expired.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Financial
Financing Offers Lure Buyers
11/02/2001
The Washington Post
FINAL
E02
Copyright 2001, The Washington Post Co. All Rights Reserved
Thanks to interest-free financing, General Motors and Ford Motor reported sharply higher October auto sales while Chrysler saw a more modest rise. GM reported that it sold 546,093 vehicles last month, a 31 percent increase over October 2000. Ford sold 400,893 vehicles in October, 36 percent more than the same month a year ago. Sales of DaimlerChrysler's Chrysler, Dodge and Jeep brand vehicles were up 5 percent, with just more than 209,000 units sold. GM set an all-time monthly record for truck sales, while sales of Ford's beleaguered Explorer SUV set an October record.
Enron Gets Loan -- at a Price
Enron received a $1 billion loan from J.P. Morgan Chase and Salomon Smith Barney but had to pledge its natural gas pipelines as collateral. Pledging the pipelines signals Enron's desperation to convince shareholders and trading partners that it's creditworthy as the Securities and Exchange Commission investigates partnerships run by its former chief financial officer, investors said. Questions about Enron's dealings with the partnerships have shut it out of commercial-paper markets, where most large corporations go to find low-interest, short-term debt.
http://www.washingtonpost.com
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
COMPANIES & FINANCE THE AMERICAS: Enron's dominant position is fuelling fears for markets: John Labate and Julie Earle consider the implications of the company's woes:
Financial Times; Nov 2, 2001
By JULIE EARLE and JOHN LABATE
Nothing has added to Enron's growth more than its aggressive and dominant position in the trading markets for gas and electricity that the Houston-based company helped to create.
A decade-long series of bold and innovative moves by Enron has not only changed the company but transformed the way US energy companies manage risk and trade energy products from region to region.
On any given day Enron is the principal in about 25 per cent of the online and offline trades in the energy and natural gas markets, according to analysts' estimates.
With an ongoing investigation by US securities regulators into Enron's accounting and disclosure practices, and Enron's market value falling by half in the past two weeks, many are wondering what impact Enron's mounting troubles could have on the trading markets.
Analysts say that in the worst case, long-term scenarios, if Enron's debt is downgraded to junk status or if the company depletes its considerable cash resources, the energy and natural gas markets could be hit in multiple ways.
"If you have something as big as Enron in a space saying they have no more money, you would have real effects and volatility in the market," said Todd Shipman, an analyst at credit rating agency Standard & Poor's.
Few competitors want to see Enron exit the trading markets, however, since it provides so much liquidity to the markets, and fewer expect that to happen.
Many of Enron's energy rivals, including Dynegy, Aquila and Duke Energy, are also trading partners, or counterparties to Enron. As such they may be closely tied to Enron's fate in the short term.
The biggest near-term threat is if there is another change in Enron's credit status.
This week Moody's Investors Service downgraded Enron to two notches above junk status. Further reductions are, for the moment, the main worry among its rivals and trading partners, although Enron debt remains at investment-grade levels.
"Certainly, whenever anybody is downgraded to junk status, their counterparties become concerned about how much credit they will extend," said Gerald Keenan, a partner at PWC Consulting in Chicago.
"Everyone is re-evaluating their credit exposure to Enron but few companies have stopped trading with it.
"It is often the counterparty of choice since it makes markets in areas where there is not a lot of liquidity."
Enron's trading partners are believed so far not to have changed the terms on their existing contracts with Enron.
However, if Enron's financial status worsens, the lack of confidence could have its own negative impact on the energy trading markets.
Existing market hedges between these multiple firms in the markets could begin to unwind, analysts warn, which could add to short-term instability in the energy marketplace.
It is unlikely, however, that energy prices would be hit since terms would quickly be renegotiated and stability return to the trading markets.
Any change in ownership in Enron could bring stability to the trading markets, say analysts.
Copyright: The Financial Times Limited
COMPANIES & FINANCE THE AMERICAS: Dollars 1bn line of credit secured to pay debt
Financial Times; Nov 2, 2001
By ROBERT CLOW and SHEILA MCNULTY
Enron, the troubled US energy trading group, has secured a Dollars 1bn credit line with JP Morgan Chase and Citigroup arm, Salomon Smith Barney.
Enron's management signalled last weekend that it expected to raise more cash to supplement the Dollars 3.3bn it received last week from drawing down its bank lines.
The new loan will be secured against the assets of Enron's Northern Natural Gas company and Transwestern Pipeline. The proceeds will pay down maturing debt and increase short-term funds.
Enron declined to comment on the terms and conditions of the deal, saying it was not yet closed.
On Octoberm, 16 Enron management announced a Dollars 1.01bn charge and a Dollars 1.2bn reduction of shareholders equity as a result of off-balance sheet private equity transactions set up by Andrew Fastow, its former chief financial officer.
Those deals raised questions about whether Mr Fastow was acting in the best interests of Enron's other shareholders, which became the basis for a Securities and Exchange Commission investigation.
If the credit rating agencies downgrade the company's debt further, counterparties might increase the collateral they require to trade with Enron. That could squeeze the embattled company's profit margins still further.
It is not yet clear how the rating agencies will react to Enron borrowing against its pipeline assets. Their stable revenues have been one of the cornerstones of Enron's rating.
In an effort to safeguard its ratings, a senior management delegation told all the rating agencies on Wednesday that it was going to be retreating from risk taking.
"We are going to explore new markets," the company said. "But what we have learned that we can expand into new markets without making large expenditures." www.ft.com/energy
Copyright: The Financial Times Limited
WORLD STOCK MARKETS: Wall St buoyed by Microsoft peace talks
Financial Times; Nov 2, 2001
By MARY CHUNG
US equities overcameearly hesitancy to risedecisively by midday as investors shrugged off grim manufacturing data and focused on Microsoft's tentative agreement to settle its antitrust battle with the government.
The Dow Jones Industrial Average was up 67.59 at 9,142.73 and the S&P 500 index 8.60 at 1,068.38. The Nasdaq Composite rose 23.66 at 1,713.86.
Investors cheered news that the US Justice Department and Microsoft had agreed the outline of a settlement requiring the world's largest software company to give computer manufacturers more freedom in the design of Windows desktops.
Microsoft rose 4 per cent at Dollars 60.54 and gave a boost to the technology sector as shares in Oracle added 2 per cent Dollars 13.79, Cisco climbed 1.4 per cent at Dollars 17.15 and Sun Microsystems gained 4 per cent at Dollars 10.55.
Chip stocks were broadly higher, with the Philadelphia Semiconductor index up 4 per cent. Shares in Intel tacked on 2.2 per cent at Dollars 24.97 and Advanced Micro Devices climbed 6.3 per cent at Dollars 10.46.
The sector was boosted by an industry report showing the third consecutive month of smaller declines for chip sales. Stocks had flirted in negative territory after more disappointing economic data painting a bleak picture for the US economy.
The National Association of Purchasing Management data showing factory activity fell to a nine-year low in October.
The data followed a report from the labour department showing the number of Americans requesting unemployment insurance benefits on an ongoing basis rose to the highest since May 1983.
Subodh Kumar, chief investment strategist at CIBC World Markets, said he was encouraged by the market's ability to bounce back from negative news.
"Even when bad news happens, there's initial weakness then the market bounces back," he said.
However, woes continued for Enron, the embattled energy trading company, which fell 9.4 per cent at Dollars 12.59 after the US Securities and Exchange Commission upgraded its probe into the company's accounting methods to a formal investigation.
United Airlines rose 2 per cent at Dollars 13 in spite of a third-quarter loss of Dollars 1.16bn.
Eastman Kodak rebounded 2 per cent at Dollars 26.07 after seeing heavy losses this week amid an analyst downgrade and a cut in its debt rating by Moody's Investor Service.
Toronto was flat in late morning trade and by midsession the TSE-300 composite index was just 8.30 higher at 6,894.00.
Banks bucked the weaker trend. Bank of Nova Scotia jumped 60 cents to CDollars 44.45 and Bank of Montreal was 33 cents higher at 34.19.
Copyright: The Financial Times Limited
Nov. 2, 2001
Houston Chronicle
Enron gets $1 billion more
Pledging assets, credit downgrade bruise shares
By LAURA GOLDBERG
Copyright 2001 Houston Chronicle
Enron Corp.'s bid to shore up investor confidence by announcing it had lined up $1 billion in credit didn't succeed Thursday.
Shares in Houston's largest company closed down $1.91 at $11.99. And that was before a second rating agency downgraded Enron's credit ratings.
The action by Standard & Poor's wasn't a surprise to Wall Street and isn't likely to help Enron's sagging shares.
Enron, the world's largest energy trader, said Thursday morning it had reached a deal with the investment banking units of Citigroup and J.P. Morgan Chase & Co. for $1 billion in credit lines to be backed by a significant portion of Enron's pipeline assets.
Last week, Enron tapped into a $3.3 billion revolving credit line that wasn't secured by collateral. It banked about $1.1 billion and is using the rest to pay off short-term debt obligations.
Investors reacted Thursday to several pieces of news.
One was Wednesday night's disclosure by Enron that federal securities regulators are formally investigating business dealings between Enron and investment partnerships formerly run by Andrew Fastow, who Enron removed last week as chief financial officer.
Since Enron revealed two financial hits related to the investment partnerships on Oct. 16, Wall Street has raised an expanding number of questions about its financial health. Some investors also saw the fact that Enron's new credit will be asset-backed as negative.
"What it tells you is that now they have to start using the crown jewels as security," said Donald Coxe, chairman of Harris Investment Management, where the Harris Insight Equity Fund owns about 78,000 shares in Enron. "Any royal family which has to pledge the crown and scepter to get a loan in the private markets tends to be about three days from the republicans breaking down the barriers of the palaces."
But Enron spokesman Mark Palmer said using the assets as collateral meant Enron could get the credit negotiated quickly.
"It has to do with speed," he said, adding that Enron sought to reassure outsiders its balance sheet is strong and that it has available cash to support its core energy trading business.
Of the new credit, which is expected to be finalized shortly, $250 million will be used to pay off debt obligation that's about to mature. The rest will be available as cash, Palmer said.
The assets of its Northern Natural Gas Co. and Transwestern Pipeline Co., the collateral Enron pledged could support another $200 million in credit if need be, he said, adding that Enron didn't believe it needed more than $1 billion.
Enron, which transformed itself from a pipeline company to a trader in everything from electricity to paper, still has about 25,000 miles of pipelines. The two assets pledged represent more than 19,000 miles of that.
Monday, Moody's Investors Service downgraded Enron's long-term debt one level to a rating that's still two notches above what are commonly called junk bonds.
Thursday, Standard & Poor's did the equivalent. It is also downgraded Enron's short-term ratings and said it was reviewing the company for potential additional downgrades.
If Enron's credit ratings fall from investment grade to junk status, it will trigger a wave negative consequences, including some that would damage its trading business.
Part of Enron's purpose in setting up new credit is to help it keep an investment-grade rating.
In its report, S&P said it downgraded Enron because it believes the company's plans, including asset sales, won't be enough to warrant the credit rating Enron had. It expressed concerns that Enron could face some permanent erosion of its share of the energy trading market if its main competitors take advantage of its weakened state and could have trouble keeping key personnel.
Carol Coale, a stock analyst with Prudential Securities in Houston, said in a report Thursday that Enron may need to issue 120 million new shares or more "to keep the rating agencies at bay."
USA: WRAPUP 2-Enron lines up cash to soothe worried Wall Street.
By Jeff Franks
11/02/2001
Reuters English News Service
(C) Reuters Limited 2001.
HOUSTON, Nov 1 (Reuters) - Enron Corp., gathering money to soothe a worried Wall Street, lined up $1 billion of new credit on Thursday, then saw its credit rating cut for a second time this week as the nation's largest energy trader struggled to restore investor confidence shaken by questionable financial transactions.
Shares in the Houston-based company, whose dealings are under investigation by the U.S. Securities and Exchange Commission, tumbled $1.91, or 13.7 percent, to $11.99 as the market continued a two-week-long pummeling of the stock.
At issue are off-the-balance sheet deals with limited partnerships, run by then-chief financial officer Andrew Fastow, which contributed to a $1 billion charge against third quarter earnings and a $1.2 billion reduction in shareholder equity announced on Oct. 16. Angry investors say Enron has not fully explained the transactions or whether it faces more liabilities.
The company, taking the tack that an having abundance of money available would ease fears about its financial stability, said on Thursday it got $1 billion in credit lines from J.P. Morgan Chase & Co. and Salomon Smith Barney Inc., the investment banking arm of Citigroup Inc.
The new credit, which comes on top of $3.3 billion in lines that Enron tapped last week, came with the proviso that the company's gas and pipeline assets be put up as collateral, a measure usually reserved for firms with "junk" credit ratings.
ALLAY FEARS
But a grateful Ken Lay, Enron's chairman and chief executive, thanked the two Wall Street institutions for their support and said the credit infusion should help allay investors' fears.
"We very much appreciate the support of two of our long-standing banking partners," he said in a statement. "With more than $1 billion in cash currently on our balance sheet, this additional credit capacity will further solidify Enron's standing as the leading market maker in wholesale energy markets."
The good news was tempered later in the day by Standard & Poor's announcement that it had cut Enron's credit rating and could do so again if the situation worsens.
The rating agency cut Enron's corporate credit and senior unsecured debt ratings to "BBB," two notches above junk status, from "BBB-plus," its subordinated debt rating to "BBB-minus" from "BBB," and its commercial paper rating to "A-3" from "A-2."
It also downgraded ratings for several Enron share trusts.
Downgrades could make it harder for Enron to issue debt and run its day-to-day business as fellow marketers and traders demand more collateral. If the ratings fall to junk, or below investment-grade, Enron could be forced to issue more shares, analysts said.
S&P said it cut the ratings because of questions about whether Enron was taking sufficient action to fully restore its credit quality.
"The company's financial flexibility has continued to diminish. This crisis of investor confidence can be traced ... directly to the company's inability to calm investors that are unsure about the strength of Enron's core energy marketing business and the viability of the company's plan to restore its credit profile," it said.
FULL DISCLOSURE
"A full, frank disclosure and discussion of the business and financial issues facing the company and its plans to address them will be necessary before investors will be able to confidently evaluate the merits of investing in Enron securities," the agency added.
S&P nevertheless said Enron's liquidity position is "adequate" to see the company through its current problems and that Enron was unlikely to see its position as the industry's top energy marketer endangered as long as it operated transparently.
On Monday, Moody's Investors Service cut Enron's long-term debt to "Baa2," also two notches above junk, and warned it may cut that rating and Enron's "Prime-2" commercial paper rating.
Enron was once a Wall Street darling lauded for its ability to create new Internet-based commodity markets that produced soaring profits and a stock price that seemed to defy gravity.
But setbacks in its bandwidth business and overseas investments, plus problems arising from the California power crisis hurt its do-no-wrong image. And in August, former Chief Executive Jeff Skilling shocked the financial world by resigning after just six months on the job, citing personal reasons.
The stock, whose year-high was $84, began to sink, then fell off a cliff after the company's Oct. 16 announcement. That day, shares closed at $33.84.
Trying to shore up its credibility, Enron replaced Fastow last week with another Enron executive, Jeff McMahon.
The company said on Wednesday an SEC "informal inquiry" begun Oct. 22 had become a formal investigation, possibly indicating regulators did not like what they had seen. It elected University of Texas law school dean William Powers to the board of directors and put him in charge of an internal probe into the deals.
Despite all the bad news of recent weeks, Enron said on Thursday its core business of energy trading was going strong.
Enron spokesman Eric Thode said transactions on the Houston-based company's widely watched Internet EnronOnline system were averaging some $3 billion to $4 billion a day, up from a 30-day average of $2.5 billion.
Enron is by far the nation's largest natural gas and electricity trader, with industry analysts estimating it is involved in some 25 percent of daily trade in those markets.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Business
THE TICKER
ENRON CORP.: Credit rating cut again; $1 billion secured
Associated Press
11/02/2001
Chicago Tribune
North Sports Final ; N
2
(Copyright 2001 by the Chicago Tribune)
Troubled Enron Corp. said Thursday it has secured $1 billion in new financing, but then saw its credit rating cut for the second time this week and watched its stock price take another dive.
Enron said it got $1 billion in credit lines from J.P. Morgan Chase & Co. and Salomon Smith Barney Inc., but had to put up its natural gas and pipeline assets as collateral.
Standard & Poor's cut its ratings for Enron, downgrading its corporate credit and senior unsecured debt ratings to BBB, two notches above junk status. Earlier this week, Moody's Investors Service downgraded the company's long-term debt.
Enron shares dropped nearly 14 percent, or $1.91 per share, to close at $11.99 on the New York Stock Exchange. After dropping to a nine-year low Tuesday, shares of the nation's largest natural gas and power marketer rose 25 percent Wednesday amid speculation the company was a takeover candidate.
But after the markets closed Wednesday, Enron announced the Securities and Exchange Commission had opened an investigation into possible conflicts of interest. The SEC is apparently looking into dealings Enron had with partnerships led by its former chief financial officer, Andrew Fastow, who was forced out last week.
Late Wednesday, Enron said it created a special committee headed by University of Texas law school dean William Powers to respond to the SEC investigation. Powers also was elected to Enron's board of directors.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
India ONGC Plans Enron Oil,Gas Field Bid If BG Deal Fails
11/02/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
SINGAPORE -(Dow Jones)- India's state-owned Oil & Natural Gas Corp. (P.ONG) said Friday that it would consider bidding for Enron Corp.'s (ENE) upstream Indian assets if U.K.-based BG Group PLC's (BRG) conditional acquisition of the assets collapses.
BG paid $388 million for Enron's 30% stake in oil and gas fields offshore western India, but the sale is subject to a number of consents and conditions including confirmation from Enron and Gas India's joint venture partners - ONGC and Reliance Industries Ltd. (P.REL) - that BG will inherit field operator status from Enron.
ONGC and Reliance Industries are challenging BG's goal of acquiring Enron's operatorship of the offshore Tapti gas field and the Panna/Mukti oil and gas field. BG have made it clear it would walk away from the deal if it didn't get outright operatorship.
"If BG wants to walk away, we'll come up with a plan. If they (Enron) offer (an opportunity to bid again), yes, then we will think about it," an ONGC spokesman told Dow Jones Newswires, without elaborating further.
Earlier this year, ONGC bid a reported $400 million for Enron's Indian oil and gas assets, only to have its bid rejected. Analysts at the time said Enron was unlikely to settle for anything less than $600 million for its stake in the venture.
ONGC and Reliance Industries jointly hold a 70% stake in the assets.
As reported Thursday, BG said it will extend the negotiation period on the operatorship of the fields for an unspecified period.
However, analysts say BG's bid for operator status will continue to face stiff resistance from ONGC and Reliance.
"We want the operatorship," the ONGC spokesman reiterated.
Enron's upstream oil and gas assets in India hold proven and probable reserves of around 170 million barrels of oil equivalent.
-By Sri Jegarajah, Dow Jones Newswires; 65-415-4066; [email protected]
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron May Sell India Dabhol Power Shr At Discount-Lender
By Himendra Kumar
Of DOW JONES NEWSWIRES
11/02/2001
Dow Jones International News
(Copyright (c) 2001, Dow Jones & Company, Inc.)
NEW DELHI -(Dow Jones)- U.S. energy company Enron Corp. (ENE) may sell its equity in India's 2,184 megawatt Dabhol Power Co. plant at a discount given its financial woes back home, a senior official of the Industrial Development Bank of India (P.IDB) told Dow Jones Newswires.
"There's a possibility of Enron selling its equity in Dabhol real cheap because that company desperately needs cash. Anything below $500 million will be a good price to pay for their Dabhol stake," said the IDBI official.
India's banks and financial institutions have a total exposure of about $1.4 billion in the Dabhol power plant, located in the western India state of Maharashtra. IDBI's own exposure in Dabhol is in excess of 20 billion rupees ($1=INR48.00).
Enron has a controlling 65% equity stake in Dabhol and wants to sell it because of payment defaults by the plant's sole customer - the Maharashtra State Electricity Board - and the Indian federal government's failure to honor payment guarantees. Back in August the U.S. company said it was willing to sell its equity at cost.
Enron India spokesman Jimmy Mogal confirmed that Dabhol Power Co. was currently in talks with the government and Indian financial institutions but declined to say what price Enron was seeking.
"DPC continues to hold discussions with the government of India and Indian financial institutions regarding the sale of foreign sponsor equity in the Dabhol project. It would not be appropriate to elaborate further on the recurring media speculation with respect to the status of these buyout discussions," Mogal said in a faxed reply to questions.
"While we remain hopeful for an amicable resolution of this issue, DPC continues to pursue the available legal remedies under the contract documents in order to protect the interests of DPC's stake holder," he added.
R.K. Pachauri, director of the independent think tank Tata Energy Research Institute, said the time was right for a company to negotiate a bargain from cash-strapped Enron for its Dabhol equity.
"Even $700 million would be a good price. All said and done, Dabhol is a world class project. People now need to get their act together and settle for a deal since the time is fast running out," Pachauri said.
The Houston-based Enron is attempting to persuade banks to provide additional credit to bolster its financial position after a precipitous fall in its share price. Last week, the company tapped its banks for $3.3 billion in credit after it encountered difficulties in raising funds in the commercial paper market.
The IDBI official said Enron's Indian lenders don't see any logic in buying out its equity in Dabhol because they don't want a non-performing asset.
But he said one possible option being talked about was the state-owned company National Thermal Power Corp. (P.NTP) buying Enron's stake.
"The government has to decide fast who will buy this equity. A state-owned company like the National Thermal Power Corp., which has core competence in the power sector, may be asked to buy Enron's stake. Later, NTPC can always resell it at a higher price," the official said.
Local newspapers say India's privately-owned BSES Ltd. (P.BSX) and Tata Power Co. Ltd. (P.TPW) may also be interested in buying out Enron's Dabhol stake.
No Tata Power official was immediately available for comment and a BSES official declined to comment when reached by Dow Jones Newswires.
The IDBI official said he hoped the government will take a decision before Nov. 9 when the Indian Prime Minister Atal Bihari Vajpayee visits the U.S. to attend the U.N. General Assembly meeting in New York.
He said Enron may send a final contract termination notice to MSEB any time after Nov. 19 and then the dispute will have to be settled by the Court of Arbitration in London.
"Should India lose the case, it may have to pay Enron damages ranging anywhere between $4 billion-$5 billion. Enron has a history of not losing any litigation," he warned.
Local media reports over the past two months have said Enron wants $1.00 billion for its stake in Dabhol.
A senior India power ministry official said the government favored an early solution to the Dabhol crisis but added that no decision had been taken yet on who would buy Enron's equity.
"We are committed toward resolving the Dabhol dispute amicably. Talks are on and nothing definite has been decided yet. But I am hopeful, the dispute will end on a happy note, sometime very soon," said the government official.
Dabhol is India's largest single foreign investment. MSEB has 15%, while General Electric Co. (GE) and Bechtel (X.BTL) own 10% each.
-By Himendra Kumar; Dow Jones Newswires; 91-11-461-9426; [email protected]
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
`Buying out Enron's stake in Dabhol unit won't help'
11/02/2001
The Times of India
Copyright (C) 2001 The Times of India; Source: World Reporter (TM)
MUMBAI: Buying out Enron's stake in the Dabhol Power Company (DPC) is no resolution since the tariff will still be unviable, analysts say.
Even as Enron Corp is preparing to sell off its stake in the project to Indian financial institutions, who have lent huge sums to the project, experts say a buy-out would make sense only if the bid for Enron's share of $ 1.3 billion is discounted to under $ 500 million and the loan component is written off by at least $ 500 million, says convenor of the Enron Virodhi Andolan, Pradyumna Kaul.
``The project will continue to be unviable even after buying it at low cost,'' Mr Kaul asserts. ``If LNG is the fuel, the energy price will still be more than Rs 2 per unit, given the fact that oil will be more than 25 per barrel. This will ensure that the unit cost of power will never be less than Rs 3.20,'' he says.
At the moment, Enron is willing to sell power at Rs 3.60 per unit at 90 per cent offtake, he points out. But this is not possible because a high offtake will not be permitted by the Maharashtra Electricity Regulatory Commission in the absence of demand. The MERC has told the state eletricity board to buy costliest power the last. ``And at a low offtake, the plant will be grossly unviable,'' an expert says.
Apart from buying Enron's stake at a low cost, it is necessary to reduce interest rates from Indian FIs, slash customs duty and sales tax on fuel, he says. These are some of the demands that DPC has already placed before the govermment. ``Even if the plant is sold, these factors will hike up the cost,'' he said.
Another alternative is to use the plant for peaking load alone, to be used only during a few hours of the day. This would bring down costs, anti-Enron activist Abhay Mehta said. In practical terms, he said, the only player to benefit from a sale is Enron Corp which is desperately looking to sell its stake.
Such a prospect leaves some grey areas about the future of the judicial inquiry ordered recently by the Democratic Front government. The probe is yet to get under way and the supreme court case against the project is pending hearing.
While officials admit that legally the actions will continue, it will not be as effective as if the company is still in the field. It is also possible to come to a mutually acceptable settlement before Enron exits the country or speed up the actions, they say.
``These repercussions are secondary; the moot point is a speedy solution to the Enron issue,'' says an official.
Mr Mehta says the fact that chief minister Vilasrao Deshmukh has already agreed to an extension for the judicial probe beyond six months, ``if it is found necessary'' suggests that the government ``is not really serious about solving the issue but will rather keep dragging the case till the chickens come home to roost and some political points are scored.''
``The state government's attitude is like that of an ostrich: if you ignore a problem long enough, it will go away,'' he says.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Dabhol lenders' meet in London cancelled
Our Bureau MUMBAI
11/02/2001
Business Standard
2
Copyright (c) Business Standard
The meeting of the lenders of the Enron-promoted Dabhol power project scheduled for November 2 and 3 in London has been cancelled.
This was supposed to be the last meeting of the lenders before the November 19 deadline by which the Dabhol Power Company is required to fire its final termination notice.
Sources in the domestic as well as the global lenders consortium confirmed the cancellation of the meeting, but gave conflicting reasons for this. Some domestic lenders maintained that the meeting was postponed because a solution to the Dabhol problem was in sight. "The government is working out a solution to the problem along with the domestic financial institutions," they said.
"It only makes sense to meet after the solution is worked out," said a source in the domestic lenders consortium.
This was sharply contested by a source in the foreign lenders consortium who said that the Industrial Development Bank of India (IDBI) chairman & managing director P P Vohra and ICICI chief executive officer K V Kamath were to attend the meeting, but their last minute engagements resulted in the cancellation of the meeting.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
USA: Critics question Andersen's handling of Enron.
By Kevin Drawbaugh
11/01/2001
Reuters English News Service
(C) Reuters Limited 2001.
WASHINGTON, Nov 1 (Reuters) - Andersen, a top accounting firm, should have done more as auditor for energy giant Enron Corp. to alert investors to certain partnerships tied to the company that are now being investigated by U.S. authorities, accounting experts said on Thursday.
As the Houston-based energy trading group dealt with a deepening crisis, critics of its auditor Andersen said the accountants should have pushed harder for more and clearer disclosure of the partnerships' potential for conflicts of interest and financial risk to Enron.
"Not only is the disclosure seemingly inadequate as to where it's put, it's inadequate as to the attention that's paid to it. Then thirdly, it's almost unintelligible," said Mark Cheffers, who heads Massachusetts-based accounting consultancy AccountingMalpractice.com, in an interview.
Enron, whose share price slumped again on Thursday, said on Wednesday that it was being investigated by the Securities and Exchange Commission, the top U.S. financial markets regulator. An SEC spokesman declined to comment.
Enron last month ousted its chief financial officer Andrew Fastow, who was instrumental in setting up and managing certain outside partnerships that have been linked to the SEC probe.
Enron's ties to the partnerships were disclosed in Enron reports to the SEC and investors. Andersen, based in Chicago, audited those reports and approved them as fair and complete.
Asked about criticisms of the job the firm did, Andersen spokesman Patrick Dorton said: "We are committed to quality auditing and protecting the investor interest. Knowledgeable parties are looking at these matters. We're not going to respond to speculative commentary."
Enron disclosed in its March 2001 proxy statement that in the year 2000 it paid Andersen $25 million in auditor fees, as well as $27 million in fees for various other work.
Enron - a former natural gas pipeline group that transformed itself into the nation's largest energy trader - saw its stock close down on Thursday near an eight-year low, having lost two-thirds of its value since mid-October.
Investors began dumping Enron shares after reports of off-the-balance sheet transactions involving two limited partnerships run by Fastow, who was replaced last week by another Enron executive, Jeff McMahon.
FASTOW'S DUAL ROLE SEEN AT HEART OF CONTROVERSY
How Fastow could have balanced his duties as Enron CFO with his role as head of the partnerships - which regularly did business with Enron - is the key question, sources said.
The partnerships - called LJM2 Co-Investment LP and LJM Cayman LP - were set up expressly to do huge volumes of highly complex financial transactions wi???stow's employer. The transactions were disclosed to Enron investors in annual 10K filings and pr???2000 and 2001.
But Andersen should have done more to put the disclosures in plain English and highlight their potential for possible conflicts and risk to Enron's finances, said critics.
Enron last month said it was taking a $1 billion charge against earnings, as well as cutting shareholder equity by $1.2 billion due to transactions with the Fastow-led entities.
"A firm of Andersen's magnitude and reputation should always be aware of such possibilities. They should be able to presuppose the what-ifs in any condition," said Jay Nisberg, an accounting consultant based in Ridgefield, Connecticut.
An Enron spokeswoman said Andersen knew about the LJM partnerships. "We made them aware of our transactions with the partnerships and they reviewed them to the extent they deemed necessary," said Enron spokeswoman Karen Denne.
Even investors in the partnerships, which by most accounts were tremendously profitable, questioned how they were set up, with Enron employee Fastow at their head.
One early investor in LJM2 was the Arkansas Teacher Retirement System, a pension fund with $8 billion in assets. zz zz.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron: Online Trading Volume Sees Normal Decline Thursday
11/01/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
NEW YORK -(Dow Jones)- Enron Corp.'s (ENE) electronic trading system, EnronOnline.com, saw a little more than 6,600 transactions Thursday, down from Wednesday's 7,100 transactions, Enron spokesman Eric Thode said.
The decline is typical of a reduction in energy trading activity at the beginning of the month, said Thode, who added that EnronOnline volume Oct. 1 was 5,200 deals. As in the past two weeks, the volume of transactions Thursday exceeded the 30-day average volume of about 5,600 daily transactions.
"All companies were transacting that we would expect to be transacting," Thode said.
On Thursday, energy traders said EnronOnline, on which Enron is the counterparty for all deals, was less active. At one key western electricity hub, Palo Verde, Ariz., EnronOnline's bid to buy power for delivery in December was $34.35 a megawatt-hour, compared with the best bid of $34.50 a megawatt-hour on the IntercontinentalExchange, a competing Internet-based trading system. EOL's offer to sell the same contract was 35 cents higher. EOL's bid-offer spreads were also wider for Northeast power and western gas at midday Thursday, though they were competitive for Northeast gas.
Generally, EOL presents tighter spreads in its key markets than the spreads found either on competing electronic systems or in the phone-broker market. Those aggressive bids have helped propel volumes on EOL since its inception in November 1999.
"Spreads fluctuate based on the markets. Every company has different perceptions," Thode said when asked about the narrower spreads on EOL.
"The power market for the past two weeks has been fairly quiet. There's been little volatility. Gas markets fairly volatile, and the increased volumes have come from primarily natural gas markets," Thode said.
-By Mark Golden, Dow Jones Newswires; 201-938-4604; [email protected]
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Power supplier Enron's stock drops another 14 percent
By MARK BABINECK
Associated Press Writer
11/01/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.
HOUSTON (AP) - Troubled Enron Corp. said Thursday it has secured $1 billion in new financing, using its natural gas and pipeline assets as collateral. But its stock price took another dive after rising a day earlier on takeover speculation.
In trading Thursday on the New York Stock Exchange, Enron shares fell nearly 14 percent, or $1.91 a share, to $11.99.
After dropping to a nine-year low on Tuesday, shares of the nation's largest natural gas and power marketer rose 25 percent Wednesday amid speculation the Houston-based company was a takeover candidate.
But after the stock market closed for the day, Enron, an important supplier to power-starved California, announced the Securities and Exchange Commission had opened a formal investigation into possible conflicts of interest.
The SEC is apparently looking into dealings Enron had with partnerships led by its former chief financial officer, Andrew Fastow, who was forced out last month as investors fled because of questions about the arrangements.
While referring to the latest SEC news as "noise," Merrill Lynch analyst Donato J. Eassey said it would subdue Enron's stock price.
"We believe the timing and directional uncertainty of this new development will at best cap Enron's stock price in the mid-teens while increasing overall volatility," Eassey said in a note Thursday.
Late Wednesday, Enron said it created a special committee headed by University of Texas law school dean William Powers to respond to the SEC investigation. Powers also was elected to Enron's board of directors.
"I have asked the board to take this action to address fully and forthrightly investors' questions and concerns," said Enron chairman and chief executive Kenneth L. Lay. "We will also make every appropriate public disclosure during the course of the SEC's investigation."
However, Duane Grubert, an analyst with Sanford C. Bernstein and Co. in New York, said Enron still has much to do to restore investor confidence.
"With (stock) values this low, you've got two camps of investors: guys that hate Enron and guys that want to be cautiously attracted to Enron," Grubert said. "It's led to the trading range being irrationally low and shares being oversold. It's not something the company wants."
Enron's stock has skidded since the company reported a $638 million third quarter loss just over two weeks ago, dragged down by a one-time charge of $1.01 billion attributed to various losses. Some of these losses have been tied to partnerships managed by Fastow, who was ousted last week.
Earlier this week, Moody's Investors Service downgraded the company's long-term debt and warned of possible further downgrades.
On Tuesday, shares hit a nine-year low of $11.16. With such a depressed stock price, the Wall Street Journal reported that Enron was being eyed as a possible takeover target.
Potential buyers include General Electric's GE Capital unit, Warren Buffett's Berkshire Hathaway and Royal Dutch Shell, the Journal said.
---
On the Net:
http://www.enron.com
AP Photo XNYR310 of Oct. 29
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
USA: UPDATE 1-S&P cuts Enron ratings, may cut ratings again.
11/01/2001
Reuters English News Service
(C) Reuters Limited 2001.
NEW YORK, Nov 1 (Reuters) - Standard & Poor's on Thursday cut its ratings for embattled energy trader Enron Corp. and warned it may cut the ratings again because of what it described as "uncertainties" surrounding the company and the possibility it may face further problems in the capital markets.
Houston-based Enron said on Wednesday it is being probed by the Securities and Exchange Commission.
Downgrades could make it tougher for Enron to issue debt and run its day-to-day business as fellow marketers and traders demand more collateral. If the ratings fall to junk, or below investment-grade, Enron could be forced to issue more shares.
S&P cut Enron's corporate credit and senior unsecured debt ratings to "BBB," two notches above junk status, from "BBB-plus," its subordinated debt rating to "BBB-minus" from "BBB," and its commercial paper rating to "A-3" from "A-2."
The rating agency also downgraded ratings for several Enron share trusts.
S&P warned it may cut all of these ratings again. A downgrade to the commercial paper rating would take that rating to junk status. All leading U.S. rating agencies, including S&P, generally rate all of a company's senior unsecured debt and commercial paper either investment-grade or junk.
S&P nevertheless said Enron's liquidity position is "adequate" to see the company through its current problems.
So long as Enron provides market participants with their usual liquidity and price transparency, it said, "it is unlikely that any significant long-term damage to Enron's franchise as the premier energy marketer will be sustained."
The S&P analyst who covers Enron was not immediately available for further comment.
On Monday, Moody's Investors Service cut Enron's long-term debt to "Baa2," also two notches above junk, and warned it may cut that rating and Enron's "Prime-2" commercial paper rating.
Enron shares closed Thursday on the New York Stock Exchange at $11.99, down $1.91, or 13.7 percent. They have fallen 65 percent since Oct. 16, when Enron said it would take $1.01 billion in charges for certain investments. The shares hit a nine-year low on Tuesday.
"CRISIS OF INVESTOR CONFIDENCE"
S&P said Enron's plan to sell assets and use other means to repair its "damaged balance sheet" will be "insufficient" to restore its historical "BBB-plus" ratings.
"This crisis of investor confidence can be traced ... directly to the company's inability to calm investors that are unsure about the strength of Enron's core energy marketing business and the viability of the company's plan to restore its credit profile," it said.
"A full, frank disclosure and discussion of the business and financial issues facing the company and its plans to address them will be necessary before investors will be able to confidently evaluate the merits of investing in Enron securities," S&P added.
Enron said on Thursday it obtained $1 billion in secured credit lines in a bid to help support day-to-day trading operations and bolster investor confidence.
"We are moving aggressively to strengthen our balance sheet and maintain our investment grade credit rating," said Jeffrey McMahon, who last week became Enron's new chief financial officer, in a statement issued on Thursday.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron's Credit Rating Cut After $1 Bln Loan Secured (Update9)
2001-11-01 18:27 (New York)
Enron's Credit Rating Cut After $1 Bln Loan Secured (Update9)
(Adds company comment in 17th to 19th paragraphs.)
Houston, Nov. 1 (Bloomberg) -- Enron Corp., the largest
energy trader, received a $1 billion loan from J.P. Morgan Chase &
Co. and Salomon Smith Barney Inc. after agreeing to use the
company's natural-gas pipelines as collateral.
Enron shares fell 14 percent a day after the U.S. Securities
and Exchange Commission began formally investigating partnerships
run by its former chief financial officer. Pledging the pipelines
signals Enron's desperation to convince shareholders and trading
partners that it's creditworthy, investors said.
``It's not reassuring, it's worrisome,'' said Donald Coxe,
manager of the Harris Insight Equity Fund, which owns about 78,000
Enron shares. ``If they had to secure the loan, obviously the
lenders don't think they can rely on Enron's financial
statements.''
Standard & Poor's said after U.S. markets closed that it cut
Enron's long-term credit rating to ``BBB,'' the second-lowest
investment grade, from ``BBB+.'' Its short-term debt rating was
cut to ``A-3,'' one grade above junk status, from ``A-2.'
The SEC is investigating partnerships run by former CFO
Andrew Fastow that bought and sold Enron shares and assets. Those
trades cost Enron $35 million and $1.2 billion in lost shareholder
equity. Questions about Enron's dealings with the partnerships
have shut it out of commercial-paper markets, where most large
corporations go to find low-interest, short-term debt.
Last Friday, Enron tapped a $3 billion credit line to pay off
$2.2 billion in commercial paper it has outstanding. Proceeds from
the $1 billion secured loan will go for debt payments and to
supplement cash reserves, Enron said.
Business With Enron
To get the $1 billion loan, Enron pledged assets of its
Northern Natural Gas Co. and Transwestern Pipeline Co., which own
gas pipeline systems that combined are about 19,000 miles long and
can deliver as much as 6 billion cubic feet of gas a day.
Enron, based in Houston, got its start as a natural gas-
pipeline operator. Over the past decade, the company has shed
assets such as pipelines and power plants and focused on trading
electricity, gas, wood pulp and other commodities.
Enron now accounts for about a quarter of U.S. power and gas
trades. The company still has about 25,000 miles of gas pipeline.
Mortgaging those lines is ``maybe not such a good signal,''
said Roger Hamilton, who manages John Hancock Value funds, which
owns 600,000 Enron shares. ``It shows they can't convince banks
with anything but secured assets.''
Shares of Enron fell $1.91 to $11.99. Earlier, they dropped
to $11.70. The stock has fallen 86 percent this year.
Enron's 6.4 percent coupon notes due in 2006 fell about 3
cents today to be bid at 74 cents on the dollar and offered at 77
cents, traders said. Until last week, the notes were trading near
par value.
Credit Rating
Enron must have investment-grade credit to borrow enough to
settle its transactions daily. Energy companies including Exelon
Corp. and Northeast Utilities have restricted business with Enron
as the company sought new sources of credit.
On Monday, Moody's Investors Service lowered Enron's long-
term credit rating to ``Baa2'' from ``Baa1,'' two notches above
junk status. It also placed the company's ``P-2'' rating for
commercial paper on review for possible downgrade.
Standard & Poor's said in downgrading Enron's credit rating
today that the company has enough liquidity to see it through the
``current period of uncertainty.'' Still, S&P said, Enron's
``financial flexibility has continued to diminish'' because of its
``inability to calm investors that are unsure about the strength
of Enron's core energy marketing business.''
Repayment Trigger
Falling below investment grade would trigger early repayment
terms for $3.3 billion in bonds held by affiliated companies such
as the ones created by Fastow. A lower credit rating also reduces
the amount of cash that Enron can raise to back its trading
business.
``There are still two levels before those triggers go into
effect,'' Enron spokeswoman Karen Denne said. The announcement of
today's $1 billion loan is ``the latest step in an orderly plan to
strengthen our balance sheet,'' she said. Denne outlined three
steps, which include the credit line and a draw-down of $3 billion
in unsecured credit, which was announced last week.
The final step is $2.1 billion in asset sales, which the
company outlined on a conference call last week. Enron said it
expects to close on $600 million in sales before year's end.
The sales include Enron's Azurix North America water business
to American Water Works Inc. for $149.8 million, Enron's Puerto
Rican power-plant company EcoElectrica Holdings Ltd. to Mirant
Corp. and Enron's stake in Brazilian natural-gas distributor Cia.
Distribuidora de Gas do Rio de Janeiro to state-owned Brazilian
oil company Petroleo Brasileiro SA, or Petrobras. The latter two
transactions are valued at $250 million each, Enron spokesman Mark
Palmer said.
S&P said today it doesn't think the asset sales and Enron's
other plans will be enough to restore Enron's credit quality to
the ``BBB+'' level it had since 1995.
Investor Confidence
The financing is to ``enhance market and investor
confidence,'' Enron Chief Financial Officer Jeffrey McMahon said
in a statement.
Enron can borrow another $200 million by bringing other banks
into the loan, Denne said. ``We don't have any plans to do so at
this point,'' she said.
``We are moving aggressively to strengthen our balance sheet
and maintain our investment grade credit rating,'' McMahon said.
McMahon, then head of Enron's industrial markets group, was
named CFO last week. Fastow was ousted in an attempt to restore
investor confidence.
``It seems until we know more about the SEC investigation,
it's going to be a difficult time for the stock,'' said Tara
Gately, an energy analyst at Loomis Sayles & Co., which sold most
of its Enron shares early last year.
J.P. Morgan is advising Enron on the sale of part of Azurix.
Salomon Smith Barney is the investment-banking arm of Citigroup
Inc.
--Russell Hubbard in the Princeton newsroom, 609-750-4651
USA: Enron U.S. energy trade so far skirts credit woes.
By Joseph Silha
11/01/2001
Reuters English News Service
(C) Reuters Limited 2001.
NEW YORK, Nov 1 (Reuters) - Enron Corp., whose shares slumped again on Thursday amid investors' concerns over a credit crunch, has yet to see that fear seriously dent its dealings with other giants of the U.S. gas and power markets.
"Trading volumes in our core wholesale businesses remain extremely strong. Every day this week, volume on EnronOnline has exceeded our rolling 30-day average. We are not seeing people hesitate to do business with us," Enron spokesman Eric Thode said.
Enron is by far the nation's largest natural gas and electricity trader, with industry analysts estimating it is involved in some 25 percent of daily trade in those markets.
The company recently became the target of a Securities and Exchange Commission investigation into financial dealings with partnerships headed by Enron's former chief financial officer.
Thode said transactions on the Houston-based company's widely watched Internet EnronOnline system were averaging some $3 billion to $4 billion a day, up from a 30-day average of $2.5 billion.
BUSINESS AS USUAL?
While Enron's dominance of the industry has long been a sore spot with competitors, many of its biggest trading partners said it was business as usual, despite an 80 percent plunge in the company's share price since January.
But the drain on the company's capital has not gone unnoticed, prompting increased caution among traders but few fears the company will exit the North American energy market.
"Enron has come under closer scrutiny, but we haven't changed our policy about dealing with the company. This is a one time event. It's a hurricane, but it doesn't mean the weather next year will be bad. Enron will handle this problem," Al Butkus, vice president at UtiliCorp United, said.
Butkus noted Enron's problems stem from how the company financed the purchase of some assets, not from its trading operations.
Charlotte, N.C.-based Duke Energy, another large trading partner, also has not curbed its business with Enron.
"We have a credit process for our counterparties which tells us how much collateral is required. That could come into play if there were further problems with Enron's credit, but we haven't seen that yet," Duke Energy spokesman Terry Francisco said.
Traders at Reliant Energy, Williams Cos., Dynegy and El Paso Corp all said they continue to deal with Enron but were closely monitoring the situation.
CREDIT SQUEEZE
Despite the current calm among energy traders, analysts cautioned Enron's shrinking capitalization could still squeeze its cash supply and hamper its ability to do business.
Questions about some off-balance sheet deals with two partnerships helped pummel the company's stock this week to its lowest level since 1992, shrinking market capitalization to less than $9 billion from more than $60 billion in January.
Most of Enron's power and gas deals are in the unregulated over-the-counter (OTC) market, so no one outside of the company knows what trades are on their books.
But Enron, the biggest market maker in energy products, has consistently preached a balanced or hedged book.
"Some people may be scaling back their dealings with Enron, but I think you can rely on Enron to do what they should do in risk management practices," Ed Krapels, director at Massachusetts-based Energy Security Analysis Inc told Reuters.
"I think at the end of the day, their book was balanced enough and they should be able to weather the storm."
But Krapels cautioned that further deterioration in Enron's share price and credit standing might force the company to post larger cash deposits with its counterparties and ultimately restrict trading operations.
Earlier today, Merrill Lynch lowered its rating on Enron's stock to "neutral" from "accumulate".
Enron's shares ended down $1.91, or 13.7 percent, at $11.99.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
INDIA PRESS:Dabhol Creditors Meeting In London Called Off
11/01/2001
Dow Jones International News
(Copyright (c) 2001, Dow Jones & Company, Inc.)
NEW DELHI -(Dow Jones)- A meeting among creditors of India's Dabhol Power Co. in London, originally scheduled for Friday and Saturday, has been cancelled, reports the Business Standard.
According to some domestic lenders, the meeting was canceled because a solution to the Dabhol's problems was in sight, the newspaper reports.
"The government is working out a solution to the problem along with the domestic financial institutions. It only makes sense to meet after the solution is worked out," the report quoted a source in the domestic lenders' consortium as saying.
However, a source in the foreign lenders' consortium said last-minute engagements of leading executives in Industrial Development Bank Of India and ICICI resulted in the cancellation of the meeting.
Dabhol, a $2.9 billion, 2,184-megawatt power project located in the western Indian state of Maharashtra, is a unit of U.S. energy company Enron Corp. (ENE).
The project ran into trouble after Dabhol's sole buyer, Maharashtra State Electricity Board, refused to purchase power from the plant, saying the company's tariffs were "exorbitant and unaffordable." Enron has threatened to sell its controlling 65% stake in Dabhol following a long-standing payment dispute with MSEB and India's federal government for its failure to honor a payment guarantee.
Dabhol is India's largest foreign investment to date. Newspaper Web site: www.business-standard.com
-By Himendra Kumar; Dow Jones Newswires; Dow Jones Newswires; 91-11-461-9426; [email protected]
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
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dasovich-j/inbox/1496.
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<489120.1075852281185.JavaMail.evans@thyme>
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unproofed draft of examples for NOPR response
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[
"[email protected]",
"[email protected]"
] |
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[] | 2001-10-01T18:22:50Z
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Here is an unproofed draft of examples. Please forward to the appropriate people at LLG. Thanks
Elizabeth Sager
713-853-6349
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sager-e/sent_items/61.
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<27734681.1075852499627.JavaMail.evans@thyme>
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RE: Hill Meetings on RTOs
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[
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]"
] |
[
"[email protected]",
"[email protected]"
] |
[
"[email protected]",
"[email protected]"
] | 2001-08-31T02:16:21Z
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John --
To your point #3Burr --
Probably want to bring in Steve Montovano on the NC PUC question -- we have worked with a local lawyer in the past (I think her name is Allison Duncan) that could help with this question and demonstrate that having an RTO does NOT make a state deal with retail competition any sooner than it wants to deal with the question. Steve Montovano could probably be of assistance here. Maybe bring in Allison to DC to deal directly with the staff?
Jim
-----Original Message-----
From: Shelk, John
Sent: Thursday, August 30, 2001 8:09 AM
To: Shapiro, Richard; Robertson, Linda; Steffes, James D.; Nicolay, Christi L.; Novosel, Sarah; Guerrero, Janel
Cc: Shortridge, Pat; Nersesian, Carin; '[email protected]'
Subject: Hill Meetings on RTOs
I had two interesting meetings yesterday afternoon with staff to key members of the House Energy and Air Quality Subcommittee: Rep. Richard Burr (R-NC) and Rep. Chip Pickering (R-MS). Terry Allen, one of our consultants, accompanied me.
In both meetings, I used to great effect the broad coalition that had filed with us in the Southeast RTO case against the North Carolina PUC stay request. If you didn't see it -- there is a long article on the coalition and the filing in yesterday's Energy Daily, which I used with the staff to show the many groups that support what we need in the Southeast. I am going to send them the filing itself as a follow up.
Burr is very important because he is the lead cosponor of the Sawyer-Burr bill that has voluntary RTO language and effectively a prohibition on mandatory RTOs. Key points--
1, We had heard from a friend of Carin's in the Burr office that Burr and/or the staff did not have favorable view of Enron. I checked with the head of the Duke office -- a personal friend of mine -- who said the staffer has friends who work for Southern. However, at the meeting, the staffer said that Burr's office had had difficulties with prior Enron lobbyists no longer with the company and that they looked forward to a fresh start.
2. Burr's main interest is transmission legislation that provides incentives for more investment so Wall Street will look favorably on transmission. His main interest is in the incentive pricing section. He said the bill was put in as they left so could stake out an opening position before Barton releases a draft in September. (This confirms Pat's observation that Burr likes to be a player.)
3. Staff said Burr has done interviews in which he said that a handful of RTOs are inevitable and desirable -- the question is how to get there. To date, he has been most influenced by the NC PUC -- (Commissioner Ervin, son or grandson of the late Senator, is a family friend of the Burr staffer). The PUC says that the FERC RTO plans for the SE would force NC to act on retail competition before 2006 -- which it is not in a position to do. (We need to respond to this argument.)
4. Burr staff acknowledged that the final subcommittee-approved bill (if there is one), would move far in the direction of the FERC plan. He said that the draft to be sent out from committee staff next week will be a staff draft and that it may not even address the tough issues like RTOs -- leaving those decisions to Members. (I will check with Andy Black -- who told me a few weeks ago that it would either affirm FERC's authority or make RTOs mandatory.)
5. Burr would be very interested in meeting with Ken Lay (per the request letter we had faxed earlier yesterday).
Pickering is important for the added reason that he is the primary House sponsor of PUHCA repeal. His staff confirmed many of the details about process in the House that we had heard elsewhere. The staff draft will be out next week -- may not cover all issues yet. There will be 2-3 hearings in September. That will be followed by a Barton draft that would be formally introduced (reflecting additions and changes from the staff draft.)
1. On PUHCA -- I raised our concerns about the recordkeeping provisions and gave him the clarifying language from V&E included in our draft package of language we gave DOE. He said he has spoken to Kelliher (whose advice he respects) and that Joe said the recordkeeping language needed to be clarified. Joe referred him to the version in H.R. 2944 in the last Congress (which I will check to see if that solves our problem.) Staffer is willing to look at our language.
2. On RTOs -- Pickering's office has not too much. The staffer is under the impression that Entergy might actually like them in the way FERC has proposed. He said Southern has raised concerns about FERC's plans with Pickering's office, but the staffer gets the impression that Southern thinks they are inevitable -- it is all a matter of timing. The disturbing thing is the staffer said something about perhaps staging the RTO process so there would be more of them of smaller scope now on a pre-set path to 4-5 later. I said this was a bad idea -- wasted resources to form the interm steps and likely that the final 4-5 would then never happen. Instead, Congress needs to follow FERC's lead that 4-5 make sense based on natural trading markets, power flows, etc.
I was encouraged by these meetings in terms of not encountering stiff resistance -- but coming away knowing we need to fully implement our aggressive campaign plans to keep the legislative process from becoming a hindrance to achieving our RTO goals.
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steffes-j/sent_items/36.
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<761820.1075843350847.JavaMail.evans@thyme>
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Re: CDWR Response to RFB
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[
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[
"[email protected]",
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"[email protected]",
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[
"[email protected]",
"[email protected]",
"[email protected]",
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"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]"
] | 2001-02-06T16:41:00Z
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Please see the following revisions to Paragraph 4. Hourly Demand Response
Program and Exhibit 4. They are important, not stylistic changes, and need
to be incorporated. Thanks.
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dasovich-j/all_documents/8906.
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<23512298.1075860208122.JavaMail.evans@thyme>
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Re: Sailing
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[] | 2001-05-09T14:24:00Z
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Oops - I didn't notice that your first message this morning went to Linda &
Amanda also. I guess we'd better bring a pair of long pants.
----- Forwarded by Mark Taylor/HOU/ECT on 05/09/2001 02:22 PM -----
"Linda Hayman" <[email protected]>
05/09/2001 02:16 PM
To: <[email protected]>, <[email protected]>, <[email protected]>
cc:
Subject: Re: Sailing
That is because amanda picked The Crab Hole in Little Dix on our last trip I
can guaranty you that I picking the Rock Resort this time!
rn, William" <[email protected]> 05/09/01 11:52AM >>>
I was thinking of not packing long pants in favor of a shorts/bathing suit
only vacation. Do you think I will need dressier attire for a restaurant or
is it "all casual all the time" down there. Amanda said the restaurants are
converted shacks and shorts will be fine. I just wanted to double check.
Bill
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taylor-m/all_documents/8317.
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<24048282.1075851629052.JavaMail.evans@thyme>
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Pescetti
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[] | 2001-10-24T15:14:37Z
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Talked to Pescetti yesterday. Prior to returning my call, he had received the information that Joe Kelliher had already been appointed to the open Republican spot, and therefore understands that there's no longer a Republican seat to run for. We had a good talk. I told him that reinstating DA was the most important energy issue facing California.
Best,
Jeff
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dasovich-j/sent_items/760.
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<4356531.1075857994951.JavaMail.evans@thyme>
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Re: Greg -
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[] | 2000-11-22T14:16:00Z
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Sure. Confidentially, CSFB has the IPO. Morgan Stanley is quietly handling
some select acquisition inquiries. I mentioned Enron and they didn't see why
you'd want to look - so I offered to find out. I think you'd be impressed by
the CEO.
You can email me or call me at 310.201.4117. I'm traveling Monday but always
reachable. Happy Turkey Day.
Larry
>>> <[email protected]> 11/22/00 02:07PM >>>
yes, we might be interested. can we talk next week?
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whalley-l/discussion_threads/587.
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VP for Bill
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Per our conversation, can you get Bill added as a VP of Enron North America.
He didn't want to fuss Enron Canada or EPMI right now. Thanks for your help!
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jones-t/sent/5595.
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<27456498.1075840900134.JavaMail.evans@thyme>
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El Paso Update
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El Paso Line #1103
? The El Paso restart approval has switched from the OPS to the National Transportation Safety Board (NTSB). The NTSB is currently investigating the explosion to determine a cause to the blast.
? Once cause is established, the project will then shift back to the OPS, when they will begin to analyze the data from tests that El Paso is currently running. At this point, OPS may request El Paso to either rerun certain tests or perform further repairs.
? The individual at OPS (in charge of El Paso's South Mainline) indicated that all 3 lines were being investigated and tested. OPS will begin to analyze the test data one line at a time (ex. line 1103 will be completely tested, analyzed, and cleared for use before following the same steps for lines 1100 and 1110). The source indicated that as these lines are being tested/repaired the current pressure on the system will not increase but instead be maintained.
? We are currently developing sources at the NTSB for the following information:
- Cause of action (#1103)
- Timeframe to determine cause of action
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kitchen-l/_americas/regulatory/144.
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<31108269.1075846162283.JavaMail.evans@thyme>
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Per Mr. Steven Kean, of Enron Corp. please see below ( Appendix C - Order 888
"Allegations of Public Utilities Exercising Transmission
Dominance).
APPENDIX C
Allegations of Public Utilities Exercising Transmission Dominance
I. Examples From Proceedings Before Administrative Law Judges
These are examples of allegations that various public
utilities have refused to provide comparable service, either
through refusals to wheel, dilatory tactics that so protracted
negotiations as to effectively deny wheeling, refusals to provide
service priority equal to native load, or refusals to provide
service flexibility equivalent to the utility's own use.
A. American Electric Power Service Corp. (AEP)
In 1993, AEP filed, on behalf of its public utility
associate companies, an open access tariff that offered only firm
point-to-point service with very limited flexibility. It did not
offer network service, flexible point-to-point service, or non-
firm service. Thus, it did not provide customers with the same
flexibility that AEP itself has. Nor did it provide a service
priority equivalent to that enjoyed by native load. The
Commission set AEP's tariff for hearing and, on rehearing, held
that in order not to be unduly discriminatory, the tariff had to
offer comparable service. American Electric Power Service Corp.,
64 FERC 4 61,279 (1993), reh'g, 67 FERC 4 61,168 (1994).
At hearing, Raj Rao of Indiana Michigan Power Agency (IMPA)
(Ex. IMPA-1, Feb 23, 1994) and Kenneth Hegemann of American
Municipal Power-Ohio, Inc. (AMP-Ohio) (Ex. AMPO-1, Feb 23, 1994),
both senior management officials, testified concerning AEP's
,
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alleged discriminatory practices. 1/ AMP-Ohio is an
association of municipalities in Ohio, some of whose members
depend on AEP for transmission and partial requirements service.
IMPA is an association of municipalities in Indiana, and many of
IMPA's loads are captive to the AEP transmission system. The
witnesses alleged as follows:
1. In anticipation of high peak demands, AEP would
contract for large blocks of available short-term power,
withhold sale of short-term power, refuse to transmit third
party short-term power, and require purchases from AEP at
the emergency rate (100 mill/kwh) when an emergency might
not exist. Ex. AMPO-1 at 6.
2. In December 1989, AMP-Ohio negotiated a 20 MW
purchase of short-term power from Louisville Gas & Electric
Company (LG&E). AEP refused to wheel because LG&E had
earlier that day told AEP it had no power to sell to AEP.
AEP then bought the power from LG&E and offered to resell it
to AMP-Ohio. Ex. AMPO-1 at 6-7.
3. In January 1990, AMP-Ohio solicited bids for
February power purchases from a number of utilities
including AEP. AEP was not the winning bid. AMP-Ohio made
arrangements to purchase the power from four winning bidders
and sought transmission through AEP. When AMP-Ohio gave AEP
1/ After the Rehearing Order expanding the scope of the
proceeding, AMP-Ohio and IMPA withdrew this testimony as no
longer necessary. This withdrawal does not change the fact
that the testimony was sworn to under oath.
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- 3 -
the schedule for delivery, AEP refused to transmit the
power, matched the average price of the winning bids, and
made the sale itself. Ex. AMPO-1 at 7.
4. In August 1993, an AMP-Ohio member (Columbus, Ohio)
was purchasing 10 MW of hourly non-displacement power from
AEP and, after AEP raised its price to 60 mills/kwh, sought
another source for the next hour. Consumers Power Company
and Detroit Edison Company both offered non-displacement
power at 40 mills. AEP refused to transmit, saying it had a
600 MW unit out and could not resell power from another
source. 2/ Columbus cancelled the transaction and had to
buy 10 MW of power from AEP at 100 mills/kwh. Ex. AMPO-1 at
7-8.
5. In July 1993, two AMP-Ohio members (Columbus and
St. Mary's) had been buying hourly non-displacement power
from AEP when the price rose to 35 mills. Dayton Power &
Light Company (DP&L) offered to sell at 23 mills and AEP
agreed to transmit for one hour. But for the next hour, AEP
said it had problems with its system, refused to transmit
the power, kept the power from DP&L for itself and offered
to sell power to AMP-Ohio for Columbus and St. Mary's at 100
2/ AEP generally limited its offer of short-term transmission
to buy/sell transactions; that is, AEP would buy the power
from the seller and resell it to the purchaser.
Supplemental testimony of AEP Witness Baker (Ex. A-73) at
27-29. Often, the terms of the buy/sell transaction
required transmission dependent utilities (TDUs) to maintain
reserves and meet contractual commitments for at least a
year. Id.
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- 4 -
mills. Columbus increased its local generation, but St.
Mary's purchased 8 MW at 100 mills. For the next hour, AMP-
Ohio arranged with DP&L for another 8 MW, hoping AEP would
transmit under the 24 hour buy-sell agreement. AEP did
transmit this power. Seven hours later in the day, St.
Mary's Greenup Hydro project power was available and the 8
MW from DP&L was no longer needed. If St. Mary's had been
receiving the hourly power that AEP had refused to transmit,
St. Mary's could have switched to Greenup power. But
because AMP-Ohio had changed to daily service, St. Mary's
had to pay a demand charge for the entire day, even though
it used the power only 7 hours and would have paid less
under the hourly rate. Ex. AMPO-1 at 8-9.
6. In January 1994, AMP-Ohio sought to transfer power
from one member with generation to other members, which
required transmission over AEP and Toledo Edison lines.
Toledo Edison said yes, AEP said no. AMP-Ohio's northern
members purchased emergency power from Toledo Edison. AMP-
Ohio then reminded AEP that it had agreed not to deny
transmission and AEP agreed to transmit. Ex. AMPO-1 at 9.
7. IMPA arranged to buy 80 MW of short-term power from
LG&E and have it wheeled, using buy-sell arrangements,
through Public Service Company of Indiana (PSI) and AEP to
serve IMPA's load at Richmond (an IMPA member). The
delivered price was $.292 per kW-day plus a 1 mill adder.
At the same time AEP arranged to buy 300 MW from PSI at $.30
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- 5 -
per kW day plus out-of-pocket energy costs. Hence, PSI was
shipping a total of 380 MW to AEP with 80 MW of that amount
to be delivered to IMPA's load at Richmond. Then, on a day
when IMPA should have received the 80 MW, AEP told IMPA that
PSI had sold everything to AEP and that IMPA would have to
buy from AEP at $.63 per kW day plus the cost of energy from
AEP. IMPA purchased from AEP under protest. AEP used its
control over transmission to intercept the 80 MW at a lower
price and resell it as short-term power to IMPA. AEP
claimed that PSI had terminated its sales to AEP on that
day. But the 80 MW was independent of PSI's other sales to
AEP and would not have been interrupted if AEP had not
interrupted it. IMPA-1 at 7.
8. IMPA has combustion turbines owned by and located
at one member, which IMPA would like to connect to the Joint
Transmission System owned by IMPA, CINergy and Wabash Valley
Power Association. To do so, IMPA needed a metering
agreement with AEP, to which AEP would not agree. IMPA-1 at
6.
9. In January 1994, IMPA had power to sell from its
turbines when AEP and others needed power. IMPA offered
power to AEP but AEP it said could not purchase the power
without an existing contract. Moreover, since there was no
short-term tariff, IMPA could not sell the power to another
utility. IMPA-1 at 6.
10. Another example of the utility engaging in
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dilatory tactics that raised the customer's transaction
costs and effectively denied transmission is the "sham
transaction" provision proposed by AEP. As filed, AEP's
tariffs permitted it to deny service merely because a
portion of the transmitted power might be used to serve a
former retail customer of AEP. See, e.g., Ex. BR&WVP-1 (J.
Bertram Solomon testimony, February 23, 1994). (As part of
a settlement AEP filed the pro forma tariff and withdrew
this provision.)
11. Finally, AEP's originally filed tariff contained a
"prodigal customer" provision. Under this provision,
transmission customers who sought to convert back to
requirements service had to give AEP five years' notice, in
which case AEP and the customer would enter into
negotiations to determine whether AEP will provide service
at all and if so under what rate, terms, and conditions.
Ex. S-39 at 1 (Staff testimony). AEP did not require notice
from all new customers, only from prodigal customers. Id.
at 2. That a potential customer was previously served by
AEP is not a reason to treat the customer differently. (AEP
withdrew this provision when it filed the pro forma tariff.)
B. Entergy Services, Inc. (Entergy)
Entergy filed a partial settlement largely adopting the NOPR
pro forma tariffs except for two provisions (headroom and
ancillary services). Because the settlement predated the filing
date for customer testimony before the ALJ, the customers did not
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- 7 -
address the need for Entergy to file a tariff. However,
customers did make allegations of discriminatory practices, as
follows.
1. Customers alleged that Entergy flat-out refused to
wheel. Louisiana Energy and Power Authority (LEPA) witness
Sylvan J. Richard testified that LEPA's predecessor systems
could not obtain interconnections from Entergy. Ex. SJR-1
at 50.
2. Customers also alleged that Entergy refused to
provide service priority equal to native load and refused to
provide service flexibility equivalent to the utility's own
use. For example, LEPA witness Richard testified that even
after state commissions ordered interconnections and other
coordination services, LEPA's predecessors were still not
able to obtain coordination services because Entergy was not
willing to coordinate and because the transmission service
it did offer was inflexible, unidirectional point-to-point
service, which prevented economic coordination with others.
Id. at 50-51.
3. South Mississippi Electric Power Association
(SMEPA) witness J. Bertram Solomon testified that Entergy's
original "open access" tariff was restricted to point-to-
point service, proposed separate charges for each operating
company, and required the cancellation of existing
agreements in order to take service under the proposed
tariff. Ex. SMEPA-10 at 28. Entergy eventually filed a
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- 8 -
network tariff, but proposed different local facilities
charges for the various Entergy public utility operating
subsidiaries. Id. at 29. Since these local facilities
charges were higher than the transmission component of the
subsidiaries' bundled rates, Entergy obtained a competitive
advantage. Id.
4. The Arkansas Cities and Cooperatives (ACC) is a
group of cities and cooperatives that own or operate
electric generation or distribution systems in Arkansas.
ACC Witness Steven Merchant testified that Entergy has
segregated the wholesale market between two of its
subsidiaries, Arkansas Power & Light Copmpany (APL) and
Entergy Power, Inc. (EPI). Ex. SMM-1 at 16. In marketing
power and energy in Arkansas, EPI is subject to an Arkansas
Commission order that bars EPI from competing with APL for
wholesale loads without first obtaining a waiver. Id.
Recently, EPI requested this waiver for all wholesale
transactions in Arkansas except for wholesale customers
currently served by an Entergy subsidiary; in other words,
EPI requested the Arkansas Commission to expand competition
for all wholesale customers except where EPI might compete
with APL. Id. ACC witness Merchant concluded that, since
EPI does not compete with APL, Entergy insulates APL's
wholesale business from competition and denies those
wholesale customers access to EPI as a source of power,
thereby limiting alternative generation sources available to
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- 9 -
ACC. Id. at 17-19. (Entergy's witness Kenney stated that
Entergy has recently filed a joint motion with ACC to the
Arkansas Commission seeking to extend the waiver and permit
EPI to sell to APL's wholesale customers. Ex. JFK-11 at 14-
15.)
C. Pacific Gas & Electric Company (PG&E)
Northern California Power Agency (NCPA) attached several
documents to its 1988 complaint in Docket No. EL89-4. These
documents were provided to support NCPA's claim that PG&E's
unreasonable practices under the PG&E/NCPA Interconnection
Agreement (IA) effectively denied NCPA access to transmission
properly requested under the IA. Although the parties eventually
settled and the Commission terminated the docket with a letter
order dated May 18, 1988, these documents provide allegations of
PG&E using dilatory tactics that so protracted negotiations as to
effectively equal a refusal to wheel. 3/
1. PG&E stated that since transmission was not
currently available, it was entitled to wait 72 months
before providing transmission; that is, transmission access
could not be granted before the passing of the 72-month
notice period. NCPA 1988 Complaint, Ex. 3. However, the IA
3/ All of these incidents are related to and examples of PG&E's
conduct described in the NOPR (FERC Stats. & Regs. 4 32,514
at 33,073 n.151), that is, the history of PG&E's attempt to
avoid its commitments made to the California owners of the
California Oregon Transmission Project (COTP). However,
these incidents are not exactly the same as the incidents
described in the NOPR, because NCPA is not one of the owners
of the COTP.
,
- 10 -
provided that transmission be provided when it becomes
actually available. PG&E also requested substantial
additional information, which NCPA considered beyond that
reasonably necessary for a study, but still provided. PG&E
then determined that transmission was not available,
reasoning that transmission was unavailable unless all the
transmission requested could be provided 8760 hours per year
without restrictions or limitations, extending through the
expiration of the agreement in 2013. NCPA 1988 Complaint at
9.
2. On November 27, 1987, NCPA made a new transmission
request to PG&E, seeking 50 MW of bi-directional
transmission at Midway. NCPA 1988 Complaint, Ex. 5. On
January 28, 1988, PG&E filed an interconnection agreement
with Turlock Irrigation District (TID) that provided TID
with 50 MW of bi-directional transmission at Midway.
Pacific Gas & Electric Company, 42 FERC 4 61,406, order on
reh'g, 43 FERC 4 61,403 (1988). On February 22, 1988, PG&E
advised NCPA that all firm transmission service available at
Midway had been fully subscribed. NCPA 1988 Complaint, Ex.
6. Then, on March 29, 1988, PG&E filed with the Commission
an interconnection agreement with Modesto Irrigation
District (MID), that provided MID with 50 MW of bi-
directional transmission at Midway. Pacific Gas & Electric
Company, 44 FERC 4 61,010 (1988). At about the same time
(in the last week in March 1988), PG&E advised NCPA that the
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- 11 -
allocations of transmission to TID, MID, and others,
including a not yet finalized allocation to Sacramento
Municipality Utility District, had used all the transmission
available at Midway. NCPA 1988 Complaint, Exs. 7 and 8.
D. Northeast Utilities Service Company (NU)
This is the case where Northeast Utilities acquired Public
Service of New Hampshire (PSNH) (Docket No. EC90-10). New
England Power Company (NEP) witness Robert Bigelow's direct
testimony expressed concern over the "relatively restrictive
transmission policies of both" NU, on behalf of Northeast
Utilities' public utility subsidiaries, and PSNH. Bigelow Direct
Testimony at 21 (filed May 25, 1990). In his cross rebuttal
testimony, Mr. Bigelow testified that "NU has a poor track record
as a provider of transmission service" and "PSNH also has an
abhorrent track record as a provider of transmission services."
Bigelow Cross Rebuttal Testimony, at 3 (filed June 20, 1990).
Mr. Bigelow described both NU's and NEP's (his own company)
failure to provide service flexibility equivalent to their own
use. Except for NEP's TDUs, both NEP and NU historically
provided only point-to-point transmission, which required
separate scheduling for each transaction. Bigelow Cross Rebuttal
at 4.
E. Southern California Edison Company and San Diego Gas and
Electric Company
The evidence in this merger proceeding (Docket No. EC89-5)
included testimony from a number of witnesses describing
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- 12 -
instances of Edison's conduct. Richard Greenwalt was the power
supply supervisor for the City of Riverside, California. He was
responsible for scheduling all purchases of energy for Riverside
and for the cities of Azusa, Banning and Colton, California.
Greenwalt testimony at 1 (November 1989). (These four cities and
Anaheim, California, are collectively referred to as the Southern
Cities or Cities.) Joseph Hsu was the Director of Utilities for
Azusa. Hsu testimony at 1 (November 1989). Gale Drews was the
electric utility director of Colton. Drews testimony at 1-2
(November 1989). Bill Carnahan was the director for Riverside.
Carnahan testimony at 1 (November 1989). Gordon Hoyt was the
general manager of the Anaheim power department. Hoyt testimony
at 1 (November 1989). Dan McCann was the power coordination
supervisor for Anaheim. He supervised Anaheim's load scheduling
and is a former Edison employee, having worked for Edison for 20
years. McCann Testimony at 1-2 (November 1989). These witnesses
testified that Edison refused to wheel as follows.
1. Edison's policy was to curtail the Cities any time
it could be justified using any of a list of acceptable
reasons to deny interruptible transmission service. Id. at
22-23.
2. Edison would not generally provide transmission
service when Edison could save money by itself purchasing
the economy energy that would be wheeled. McCann testimony
at 19. The Cities called Edison every hour to request
interruptible transmission service. Id.. Edison often
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- 13 -
refused to sell energy available in the Western Systems
Power Pool to the Cities and then made available higher cost
contract energy or partial requirements service. Id. at 19-
20.
3. When Anaheim requested Edison provide firm
transmission of power from neighboring states, Edison would
often agree to provide non-firm service but would not
integrate the capacity for many years in the future, saying
that its control area did not need capacity at that time.
Hoyt testimony at 9. Since the selling utility was
interested in a sale of capacity, not just energy, the
transaction would not occur. Id. Edison repeatedly used
its control over transmission to deny Anaheim access to low-
cost firm power. Id. at 9-10.
4. While Edison provided short-term firm transmission
service to the Cities, it would only provide long-term firm
service for three specific resources: the SONGS nuclear
plant, a specific IPP, and Hoover Dam power. Hoyt testimony
at 20. One of Edison's reasons for denying long-term
transmission was that Edison desired to reserve the
transmission for its own future (unspecified) needs. Id.
5. In the 1970s, Edison refused to allow the Cities
access to the Pacific Intertie. Hoyt testimony at 21; Drews
testimony at 7-8.
6. In 1988, Edison refused to provide transmission
service for a Cities power purchase from Public Service
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Company of New Mexico (PSNM) from Palo Verde Nuclear
station. Hoyt testimony at 21.
7. Edison has refused to provide requested firm
transmission from
- California-Oregon border to Midway Station
- Nevada-Oregon Border to Sylmar Substation
- Palo Verde Switchyard to Vista
- SONGS Switchyard to Vista.
Carnahan testimony at 15.
8. Riverside requested transmission from Palo Verde
and was told that such service was not available. Carnahan
testimony at 16. Edison offered Riverside only 12 MW of
curtailable transmission entitlement to provide Riverside's
share of Palo Verde. Id. This service was neither large
enough or long enough, and Edison insisted on
unreasonable terms and conditions. Id.
9. Azusa, Banning and Colton had a contract with
Edison that entitled them to use their Palo Verde firm
transmission path to schedule energy to meet their contract
energy obligation. Edison refused to permit the three
cities to use that path. Edison did not contest that the
contracts allowed this use, but said that the scheduling of
such small amounts of energy for the three cities would be
too burdensome. Greenwalt testimony at 14.
10. Edison would not respond in a timely manner to the
Cities' requests, routinely taking months to respond. Drews
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- 15 -
testimony at 15.
11. During the 1980s, Edison provided Colton with some
transmission service to allow the Cities to reach certain
suppliers, but limited the choices available to the Cities
and imposed terms and conditions that increased the Cities'
costs and placed Colton at a disadvantage against Edison.
Drews testimony at 9. Arranging alternative generation
sources was difficult because the Cities always had to first
get Edison to state whether it would provide transmission.
12. During 1988 and 1989, a dispute arose between
Edison and the Cities concerning the Hoover Uprating
Project. Drews testimony at 16. Edison argued that for the
months when units were out of service for uprating, and
Southern Cities capacity was reduced to zero, Southern
Cities would not receive an energy credit, even though
energy was still available and used by Edison. But the
contracts allowed a participant who did not have capacity to
still schedule its energy as non-firm energy on the capacity
of another participant. Id. at 16-17.
13. In 1986, Azusa negotiated a power purchase
contract with the California Department of Water Resources
in increments of first 5 MW and then 2 MW (for a total of 7
MW). Hsu testimony at 14. First Edison assured Azusa that
the transmission for the additional 2 MW would not be a
problem. Id. Then Edison would not agree to amend the
transmission service agreement for the additional 2 MW. Id.
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14. In 1986, Azusa notified Edison of Special
Condition 12 4/ purchases from PG&E and requested firm
transmission service. Id. Two months before service was to
begin, Edison notified the Cities of a problem with the
transmission lines. Id. Transmission was eventually
granted, but only after a four-month delay and substantial
losses to the Cities. Id. Then Edison decided there was no
problem with its transmission facilities. Id. at 14-15.
15. In 1986-87, the Cities purchased 20 MW from PG&E
and 80 MW from Deseret G&T Cooperative. Hoyt testimony at
7-8. Edison stated that without reinforcement of its
transmission system, Edison would not provide the
transmission. Id. There was a five-month delay during
which the Cities were forced to purchase from Edison at a
higher cost. Id. at 8-9. Then Edison decided that the
transmission system did not need reinforcement. Id. at 8.
16. Edison also refused to provide a service priority
equal to that of native load. It would curtail the Cities
in order to purchase more economy energy for itself. McCann
testimony at 28. If Edison could make the purchase, it
would curtail the City and use the energy for itself. Id.
When Edison curtailed the Cities, they were not able to
4/ Special Condition 12 of the Integrated Operations Agreement
between Edison and the Southern Cities defined certain
Special Condition 12 resources and allowed the Cities to
make certain uses of those resources, subject to certain
restrictions.
,
- 17 -
purchase economy energy and instead purchased energy from
Edison. Id. at 24.
17. According to Edison, the interruptible
transmission it provided the Cities was interruptible for
any reason. Id. at 20. A purchase could be terminated the
hour after it is begun or even during the hour. Id. As a
result, the Cities lost opportunities to make advantageous
economy purchases. Id. at 20-21.
18. Edison also refused to provide customers
flexibility similar to the flexibility Edison provided
itself. Edison's refusal to provide bi-directional
transmission service restricted the Cities' abilities to
purchase hydroelectric energy from the Pacific Northwest.
Hoyt testimony at 22. Because most contracts with Northwest
utilities require a return of power, the Northwest utilities
would not deal with the Cities without transmission to
return energy. Id. at 22-23. Edison did provide bi-
directional transmission to the Los Angeles Department of
Water & Power (LADWP) to accommodate flows to and from
Arizona. Id.
19. Riverside was unable to obtain non-firm service
more than two hours in advance of need. Carnahan testimony
at 18.
20. Riverside and Colton were both served out of
Edison's Vista substation. Although the two cities were on
the same 69 kV bus, Edison would not allow them to sell
,
- 18 -
energy to each other. Greenwalt testimony at 17.
21. Riverside's agreement with Edison allowed
Riverside to purchase a block of energy through the WSPP and
divide it up among the four Cities (Azusa, Banning, Colton
and Riverside). Greenwalt testimony at 17. When Riverside
had excess energy from other sources, Edison would not
permit it to sell that energy to the other three cities.
Id. For example, Riverside attempted to sell Deseret energy
transmitted by LADWP to the Edison system. Id. at 17-18.
LADWP would not break out the Cities' shares of that energy,
and Edison would not accept the energy as a delivery for all
four cities. Id. at 18. Edison argued that because this
energy was excess energy that Riverside could not use,
Riverside did not have transmission rights to bring it into
the control area. Id. As a result, Riverside paid for the
energy delivered by LADWP to the Edison control area, but
could not sell it to the other three cities, and gave it to
Edison itself, which consumed the energy without making any
payment for it. Id. Riverside tried a number of
alternative paths, including using WSPP transmission where
Riverside paid Edison 5 mills to connect to Azusa, 5 mills
to connect to Banning, and 5 mills to connect to Colton for
each megawatthour. While this approach was successful for a
while, eventually Edison refused to permit these sales.
22. Edison claimed that the Cities only have
transmission rights to bring in enough Special Condition 12
,
- 19 -
energy to satisfy the Cities' load. Greenwalt testimony at
18.
23. Edison contended that the Cities' load
requirements were satisfied first by integrated resources
and then by Special Condition 12 and economy energy
purchases. Id. at 19. When the Cities' integrated
resources exceeded their load, any Special Condition 12
resources became excess. Under Riverside's Deseret
contract, the Cities were required to take a minimum of 35
MW each hour. Id. Edison acknowledged that it was
obligated to buy, or allow the Cities to sell, any excess
energy from Riverside's integrated resources. Id. However,
Edison refused to give the Cities credit for excess Special
Condition 12 energy brought into the area, claiming that the
Cities could not have brought it in because they did not
have transmission rights. Id.
II. Other Examples of Transmission Disputes
Disputes over transmission are not uncommon, contrary to
EEI's suggestion. Some recent examples taken from pleadings and
other documents and from Commission orders reveal that it has
been very difficult for various entities in the electric power
industry to agree on transmission rights. These examples also
reveal that even after issuance of AEP and the Open Access NOPR
with its proposed pro forma tariffs, there has been considerable
controversy over whether various utilities' "open access" tariffs
deviate from those tariffs. (The Commission has allowed
,
- 20 -
utilities that adopt tariffs that match or exceed the non-rate
terms and conditions in the NOPR pro forma tariffs to obtain
certain benefits.)
A. In a letter of February 3, 1995 to Mr. Gerald
Richman of the Commission's Enforcement section in the
Office of the General Counsel, Steven J. Kean, Vice
President, Regulatory Affairs, Enron Power Marketing, Inc.
(Enron) alleged that Niagara Mohawk Power Corporation (NiMo)
refused to wheel power from Rochester Gas & Electric (RG&E)
to Enron under RG&E's transmission contract with NiMo;
however, when Enron revealed the buyer, NiMo did wheel power
for RG&E to the buyer. Mr. Kean alleged that this was not
an isolated incident. NiMo argued that the contract did not
require it to provide RG&E with transmission to Enron. It
also said that the principle of comparability does not
require the service. Letter of November 21, 1994 from NiMo
representative A. Karen Hill to Gerald Richman.
B. The Commission's Task Force Hot Line (Hot
Line) received a complaint that a member of the New
York Power Pool (NYPP) refused to transmit power that
another member bought from a power marketer. In a
letter of November 17, 1994, from Chair Moler to Mr.
William J. Balet, Executive Director of NYPP, Chair
Moler explained that the Commission's enforcement staff
had investigated and found the allegation to be true.
,
- 21 -
C. In Southern Minnesota Municipal Power Agency
v. Northern States Power Company (Minnesota), 73 FERC 4
61,350 (1995), NSP and SMMPA had a contract under which
NSP agreed to provide transmission service. However,
the parties had numerous disputes over the service.
The Commission found that NSP had misinterpreted the
contract in several ways. For, example, SMMPA argued
that it should be able to directly schedule its
deliveries of energy out of the NSP control area and
that it should not be limited to particular points of
delivery. NSP argued that only it was entitled to
control the physical operation of scheduling. The
Commission found that the clear language of the
contracts gave SMMPA the authority to schedule its own
power.
D. Mid-Continent Area Power Pool, 72 FERC 4 61,223
(1995), involved MAPP's membership criteria, which made it
impossible for a power marketer to join MAPP and obtain the
benefits of certain transmission services available only to
MAPP members. The Commission found that the membership
criteria may be unreasonable, particularly since there may
be less burdensome ways of setting up membership criteria
for non-traditional entities.
,
|
kean-s/all_documents/876.
|
||
<15205746.1075853752031.JavaMail.evans@thyme>
|
Hallmark cards you'll NEVER see!
|
[
"[email protected]"
] |
[] |
[] | 2000-03-28T20:17:00Z
|
> Hallmark cards you'll NEVER see!
>
> *"Congratulations on your wedding day! Too bad no one likes your wife."
> *"How could two people as beautiful as you have such an ugly baby?"
> *"I've always wanted to have someone to hold, someone to love.
> After having met you, I've changed my mind."
> *"I must admit, you brought Religion in my life. I never believed in
Hell
> until I met you."
> *"Looking back over the years that we've been together, I can't help but
> wonder: What the fuck was I thinking?"
> *"As the days go by, I think of how lucky I am that you're not here to
ruin
> it for me."
> *"If I get only one thing for Christmas, I hope it's your sister."
> *"As you grow older, Mom, I think of all the gifts you've given me.
> Like the need for therapy!!"
> *"Thanks for being a part of my life! I never knew what evil was before
> this!"
> *"Congratulations on your promotion. Before you go, would like to take
this
> knife out of my back? You'll probably need it again."
> *"Someday I hope to get married, but not to you."
> *"Happy Birthday! You look great for your age...almost life-like!
> *"When we were together, you always said you'd die for me.
> Now that we've broken up, I think it's time you kept your promise."
> *"We have been friends for a very long time -- what do you say we call it
> quits?"
> *"I'm so miserable without you, it's almost like you're here."
> *"Congratulations on your new bundle of joy.
> Did you ever find out who the father was?"
> *"You are such a good friend that if we were on a sinking ship and there
was
> only one life jacket, I'd miss you heaps and think of you often."
> *"Your friends and I wanted to do something special for your birthday so
> we're having you put to sleep."
> *"Happy Birthday, Uncle Dad!!" (available only in Arkansas, West
> VA,Tennessee, Alabama, Georgia-Oh Hell, lets just say all states south of
> Maryland) >>
>
>
>
|
germany-c/discussion_threads/912.
|
|
<11667326.1075858384283.JavaMail.evans@thyme>
|
EOL Average Deal Count by Trader and Product as of 5-16-01
|
[
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]",
"[email protected]"
] |
[] |
[] | 2001-05-17T09:04:00Z
|
The following file contains a graphical view of the North American Gas
average deal count by Trader and Product for EOL. This information is for
comparative analysis only. Do not update links when opening this file.
If you have any questions regarding this breakout, please let me know .
Thanks,
Adam Johnson
x54877
EnronOnline
|
neal-s/all_documents/10.
|
|
<18432520.1075860060327.JavaMail.evans@thyme>
|
AIG Intl Worksheet
|
[
"[email protected]"
] |
[] |
[] | 1999-09-30T16:21:00Z
|
Tanya wants us to use this credit for the 5 deemed ISDA's for AIG that Lucy
is working on.
---------------------- Forwarded by Mark E Taylor/HOU/ECT on 09/30/99 04:20
PM ---------------------------
Tanya Rohauer
09/30/99 04:04 PM
To: Mark E Taylor/HOU/ECT@ECT
cc:
Subject: AIG Intl Worksheet
Per my voice mail
---------------------- Forwarded by Tanya Rohauer/HOU/ECT on 09/30/99 04:04
PM ---------------------------
Tanya Rohauer
09/20/99 04:13 PM
To: Shari Stack/HOU/ECT@ECT
cc:
Subject: AIG Intl Worksheet
Attached is the credit worksheet for the AIG International ISDA. I will let
you forward to the appropriate paralegal. Let me know if you have questions.
Thanks,
Tanya
|
taylor-m/sent/507.
|
|
<11471295.1075853769141.JavaMail.evans@thyme>
|
Re: BBQ - Joni's Sendoff - Sunday, Sept 10th, 4 pm
|
[
"[email protected]"
] |
[] |
[] | 2000-09-05T16:49:00Z
|
I'm there!
"Veselack, Joni" <[email protected]> on 09/05/2000 04:35:31 PM
To: "'Baker, Briant'" <[email protected]>, "'Bowen, Tricia'"
<[email protected]>, "'Campos, Alma'" <[email protected]>, "'Chastain,
Renee'" <[email protected]>, "'Chokshi, A'" <[email protected]>,
"'Collins, Joann'" <[email protected]>, "'Cooper, Audrey'"
<[email protected]>, "'Dempsey, Rhonda'" <[email protected]>,
"'Gallagher, Lisa'" <[email protected]>, "'Germany, Chris'"
<[email protected]>, "'Klein, Mary'" <[email protected]>, "'Kolosseus,
Mike'" <[email protected]>, "'La Madrid, Victor'"
<[email protected]>, "'Landry, Chad'" <[email protected]>, "'Luby,
Patrick'" <[email protected]>, "'Luis, Michelle'" <[email protected]>,
"'Mehra, Ziba'" <[email protected]>, "'Mitchell, Meredith'"
<[email protected]>, "'Olinger, Kim'" <[email protected]>, "'Preuss, Byron'"
<[email protected]>, "'Scherwitz, Scot'" <[email protected]>, "'Shelton,
Carolyn'" <[email protected]>, "'Sumrow, Chris'"
<[email protected]>, "'Sumrow, Molly'" <[email protected]>,
"'Vachuska, Cindy'" <[email protected]>, "'Vigil, Gene'"
<[email protected]>, "'Wagner, Cassandra'" <[email protected]>, "'Wagner,
Ross'" <[email protected]>, "'Williams, Sean'"
<[email protected]>, "'Frnka, Dawn'" <[email protected]>,
"'Bienski, Janet'" <[email protected]>
cc:
Subject: BBQ - Joni's Sendoff - Sunday, Sept 10th, 4 pm
It's a Party and You're Invited
Occasion: Farewell Party - Joni Veselack
Day: Sunday, September 10
Time: 4:00 p.m.
Place: Woods on Augusta (pool area)
I'm heading up north and didn't want to leave without having one
last get together around the pool!!! So, I decided to fire up the grill and
bbq. I will have some snacks along with the bbq, but any side dishes or
desserts will definitely be enjoyed by one and all.
Please bring your own "Cheer".
Also, I need a head count for how much bbq to buy. (Get your minds
out of the gutter.) So, please let me know if you're attending.
PG&E National Energy Group and any other
company referenced herein that uses the PG&E name or
logo are not the same company as Pacific Gas and
Electric Company, the regulated California utility. Neither
PG&E National Energy Group nor these other
referenced companies are regulated by the California Public
Utilities Commission. Customers of Pacific Gas and Electric Company
do not have to buy products from these companies in order
to continue to receive quality regulated services from the utility.
|
germany-c/discussion_threads/1650.
|
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