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Harry -- I think that we need to talk with EWS Tariff risk to make sure that we are on the same page. I am concerned that some of Gloria's statements may not end up happening with the final tariffs. Please advise. Jim -----Original Message----- From: Ogenyi, Gloria Sent: Monday, November 19, 2001 3:27 PM To: Anderson, Bob; Collins, Patricia Cc: Rathvon, Richard; Sparling, Jay; Keene, Patrick; Kingerski, Harry; Steffes, James D.; Ryall, Jean Subject: RE: Rock Tenn CoGen Facility Bob, Per Section 25.345 (c) of the Electric rules, if the Cogen facility has a rated capacity of 10MW or less, it qualifies as "eligible generation" under Section 25.345(c)(B). In Section 25.345(i), an end-user whose actual load is lawfully served by eligible generation and who does not receive any electrical service that requires the delivery of power through the facilities of a T & D utility is not responsible for payment of any stranded cost charges. Also a retail customer whose actual load is lawfully served by eligible generation who also receives electrical service that require the delivery of power through the facilities of a T & D utility, shall be responsible for payment of stranded costs charges based solely on the services that are actually provided by the T & D utility. The short answers to your questions are: 1. Rock Tenn will not be required to pay CTC charges if its rated output is less than 10MW, and it does not take any T&D services from TXU. 2. If Rock Tenn uses T&D facilities occasionally, it will pay CTC only for the actual services it receives from the T& D utility. 3. If Rock Tenn completely disconnects from the utilities T&D services, it will be in the same position as in 1 above. It will not be required to pay the CTC. 4. At this time, TXU does not have a financing bond issued by the Commission. In an earlier order, the Commission approved $363 MM for TXU, but that order was appealed, and the Supreme Court remanded the case to the Commission for rehearing. With information that is available to it at this time, the Commission does not think that TXU has stranded costs. I believe TXU will disagree. It will be interesting to see how this plays out. Please call with any questions, Gloria -----Original Message----- From: Anderson, Bob Sent: Friday, November 16, 2001 3:47 PM To: Ogenyi, Gloria; Collins, Patricia Cc: Rathvon, Richard; Sparling, Jay Subject: RE: Rock Tenn CoGen Facility Gloria, Per the information you provided Trish (below) concerning CTC in TX, the cogen design is less than 10MW. Therefore, what are the "DG rules" and how do these rules impact Rock Tenn's requirement to pay CTC? What if they only use the utility's T&D facilities occasionally when the cogen is not running? What if they completely disconnect from the utility's T&D facilities, as if they are no longer in business? Is TXU expected to have significant stranded costs? Thanks, Bob -----Original Message----- From: Sparling, Jay Sent: Wednesday, November 07, 2001 12:49 PM To: Anderson, Bob Cc: Rathvon, Richard Subject: Rock Tenn - Will pay CTC charges FW: CoGen Facility ---------------------- Forwarded by Jay Sparling/HOU/EES on 11/07/2001 12:47 PM --------------------------- From: Patricia Collins/ENRON@enronxgate on 11/07/2001 10:34 AM To: Jay Sparling/HOU/EES@EES cc: Subject: FW: CoGen Facility Here is the information for Rock Tenn. Thanks, Trish -----Original Message----- From: Ogenyi, Gloria Sent: Wednesday, November 07, 2001 10:09 AM To: Collins, Patricia Subject: FW: CoGen Facility -----Original Message----- From: Ogenyi, Gloria Sent: Wednesday, November 07, 2001 8:43 AM To: Collins, Patricia Subject: FW: CoGen Facility -----Original Message----- From: Ogenyi, Gloria Sent: Wednesday, November 07, 2001 8:38 AM To: COLLINS, PATRICIA Subject: FW: CoGen Facility Trish, I sent this to you yesterday, but apparently, it went to the wrong address. -----Original Message----- From: Ogenyi, Gloria Sent: Tuesday, November 06, 2001 5:16 PM To: COLLINS, PATRICIA Cc: Hamb, Edward; Kingerski, Harry; Ryall, Jean Subject: CoGen Facility Trish, Per Chapter 39.252(b)(1) of the Texas Utilities Code, recovery of stranded costs by an electric utility shall be from all existing or future retail customers within the utility's certificated territory as it existed on May 1, 1999. A retail customer may not avoid CTC's by switching to a new on-site generation. New on-site generation is defined as an electric generator generating more than 10 MW, capable of being lawfully delivered to the site without use of the utility T & D facilities, and which was not fully operational prior to 12/31/99. (If the self-gen facility's output is 10 MW or less, it will be governed by the DG rules.) If a customer commences taking energy from a new on-site generation (with output of more than10 MW ) which materially reduces or eliminates the customer's use of energy delivered through the utility's facilities, the customer shall pay an amount each month computed by multiplying the output of the on-site generation by the CTC which is in effect during the month. Any CTC assessed on such a self -gen facility after it becomes fully operational, shall be included only in those tariffs or charges associated with services actually provided by the T & D utility to the customer after the facility has become fully operational. So if no services actually provided, there should be no payment. Please call with any questions, Gloria
Why is Buxton upset? This is good for consumers? What does he want to change his mind and push this forward? Wouldn't this just lower the prices to his customers? Also, this is why we need to be constantly pushing the political message in the states. Jim -----Original Message----- From: Barnes, Lynnette Sent: Tuesday, August 14, 2001 11:19 AM To: Ferris, Frank; Fromer, Howard; Lawner, Leslie; Memari, Tooran; Miller, Terri; Montovano, Steve; Rishe, Frank; Ross, Derrick; Schoen, Mary; Snyder, Brad; Sullivan, Kathleen; Suttabustya, Buranit; Thome, Jennifer; Truxillo, Wayne; Wininger, James; Ader, Jeff; Anderson, Jonathan; Anderson, Meriwether; Bachmeier, Rick; Bernstein, Eitan; Bernstein, Mark; Bertin, Suzanne; Bolton, Stacey; Chan, Stella; Duda, Geoff; Galow, Gary; Hammond, Pearce; Jackson, Robert; Kazibwe, Julia; Keene, Patrick; Kingerski, Harry; Kosnaski, Andrew; Lopez, Yolanda; Meigs, Mark; Ogenyi, Gloria; Steffes, James D.; Boston, Roy; Bray, Peter; Collins, Joan; Hueter, Barbara A.; Landwehr, Susan M.; Lassere, Donald; Migden, Janine; Stroup, Kerry; Covino, Susan; Magruder, Kathleen; Merola, Becky; Reichelderfer, Thomas; Sandherr, Cynthia Subject: FERC exceeded jurisdiction w/RTO say consumer groups FERC Exceeded Jurisdiction With RTO Order - Consumer Grps Aug. 14, 2001 Dow Jones Energy Service (Copyright (c) 2001, Dow Jones & Company, Inc.) (This article was originally published Monday) NEW YORK -(Dow Jones)- New England consumer advocates Monday said federal energy regulators overstepped their jurisdiction in ordering the consolidation of the wholesale electricity markets and transmission systems in the northeast U.S. The Federal Energy Commission in mid-July directed operators of the power grids in New York, New England and the Mid-Atlantic to merge, as part of a sweeping series of orders designed to put control of the country's transmission system in independent hands. Federal law allows the Federal Energy Regulatory Commission to require transmission systems to connect, but only at the request of a state regulators, according to a filing made by Maine law firm on behalf of consumer groups, nonprofit energy groups and the attorney general of Massachusetts. "The Commission makes no claim in the New England Order that it is acting at the behest of a state commission or public utility, and is, therefore, without authority to mandate the involuntary combination of the Northeastern RTOs," the groups said in their filing, which asked FERC to reconsider its consolidation decision. FERC should give the three Northeast grid operators a transition period to evolve into three regional transmission organization, or RTOs, with similar market designs, transmission tariffs and governance structures before requiring them to merge, the filing said. The commission directed the operators of the wholesale power grid in New England, New York and the Mid-Atlantic to meet with utilities, generators, trade groups, state regulators and a FERC judge in Washington for 45 days beginning July 19 to outline plans for creating one transmission organization from Washington, D.C., to Maine. The regulators also directed Judge Peter Young to submit recommendation to them 10 days after the conclusion of the talks. The commission ordered the consolidation of the Northeast power grid "at breakneck speed" without studying the technical feasibility of creating one RTO and without analyzing the costs and benefits of merging, the consumer groups said in their filing. Young has directed meeting participants not to discuss the substance of the negotiations, but sources familiar with the talks said the group is outlining a business model describing how to structure a Northeast RTO without filling in the details. Participants have said, for example, that this regional market should have one transmission tariff and one interconnection standard, but haven't defined what that tariff and standard should be. "Many people are very discouraged by the ongoing talks," said Anthony Buxton, an attorney with the Maine law firm that submitted Monday's filing. All 300 meeting participants have been gathering in Washington twice a week and have been working on the issues every day outside of those meetings, Young said. Next week, they will break off into smaller groups and begin meeting every day, according to Young and market participants. The commission was in turmoil when it issued its RTO decision, as evidenced by Chairman Curt Hebert's resignation last week, and should therefore reconsider its order, Buxton said. The consumer groups also asked the commission to allow residential electricity users to have a say in how the unified electricity market in the northeast U.S. will run. Market participants, including consumers, will have an advisory capacity only in this new market and won't be allowed to vote on the rules that govern the market, as they do now, Buxton said. This decision contradicted another one FERC issued in 1996 requiring utilities to open their transmission lines to competitors. In that order, the commission encouraged New England to create an independent system operator to oversee the power grid and to give market participants equal say in determining how this regional transmission system and electricity market would operate The consumer groups that filed Monday are working to galvanize other organizations representing residential customers in New England, Buxton said. "Consumers are going to be at the forefront of a massive attack on FERC for what it's done," Buxton said. -By Kristen McNamara, Dow Jones Newswires; 201-938-2061; kristen.mcna <mailto:kristen.mcnamara@dowjones.com> 713-853-9287 888-703-0309
In This Email: The Valentine's Day Countdown Has Begun Great Wines and Gifts Two Weeks to ZAP Mania Wine Team Picks The Valentine's Day Countdown Has Begun Although you might have gotten the impression the holidays were over, the most important day of the year for lovers is just around the corner. At wine.com, we believe that fine wine -- and the surrender to the senses that it invites -- is love, so in anticipation of the (more-rapidly-approaching-than-you-think) date of February 14, we've officially opened our Valentine Shop. In it, you'll find all kinds of romantic gift packages, suggestive sweets, personalized wine labels, and ... oh, yes, special wines from all over the world, arranged in amorous combinations. Browse the shop now, and you'll be sure to score a hit when V-Day arrives on your doorstep. To learn more about each item listed below, simply click on its name. _____________________________________________________________________ Great Wines and Gifts 1998 Ivan Tamas Zinfandel, Livermore Valley, California, $8.95 An outstanding, fruit-filled Zinfandel produced from old-vine grapes grown in Northern California's historic Livermore Valley. Intense raspberry and dark cherry fruit flavors with black pepper aromas; medium-bodied, with nice depth and concentration. 1997 Adella Zinfandel, Napa Valley, California, $14.99 A big mouthful of a Napa Zin that still offers supple smoothness and easy drinkability. The addition of Sangiovese and Syrah gives the wine extra body, depth, and flavor. A perfectly targeted Zinfandel that hits the palate right in the bull's-eye. Port and Chocolate Cigars, $30.00 This soothing tawny port from Tuke Holdsworth is a great way to take the chill out of a cool winter evening. Paired with luscious chocolate cigars, it inspires warm feelings all through the winter. Packaged on a sparkling silver plated bottle coaster. Romantic Duet, $35.00 When it comes to attractive matches, this international couple - a rich, toe-tingling French bubbly (originally blended for Czar Nicholas II of Russia) and a graceful, supple Napa Valley Merlot - is not only glamorous, but also harmonious. 1997 Sonora TC Vineyard, 'Old Vine Zinfandel', Sierra Foothills, $24.00 Big and foward in style with tons of intense fruit and firm tannins. Classic Sierra Foothills Zinfandel from a 90 year old vineyard. If Sonora's two Zins were singing in the choir, "TC Vineyard" would be singing baritone and "Story Vineyard" tenor. 1999 Left Bank Macon-Ige Vieilles Vignes, Burgundy, France, $12.00 Clean and direct, this friendly wine is sure to please anyone tired of oaky Chardonnay. Sold exclusively at the popular Left Bank restaurants in the San Francisco Bay Area and through wine.com, it's made in an easy-to-drink style, perfect for bistro food: big, soft, pale-straw in color, with aromas of green apple, hay, and lime. _____________________________________________________________________ Two Weeks to ZAP Mania Now is a time of year when Zinfandel lovers find themselves salivating even more profusely than usual. Such Pavlovian symptoms are observable with the approach of January 27, the date of the upcoming ZAP tasting in San Francisco. ZAP (Zinfandel Advocates and Producers) was formed by a group of impassioned wine producers in 1992 to raise awareness of Zinfandel and promote it as America's "native" wine. Like other members of the Vitis vinifera family, Zinfandel's origins lie somewhere in Europe, but nobody has been able to determine exactly where; DNA testing has shown the grape to be identical to the Primitivo of southern Italy, but it's documented in the United States earlier than it can be traced to Italy. Zinfandel has been grown and vinified in California since the mid-19th century, establishing it as America's contribution to the world of fine wine. While Zinfandel's fortunes have risen and fallen since its arrival in the New World 150 years ago, it's always been a grape and wine that inspired feverish loyalty. Now, as the 21st century commences, Zin seems to have it both ways: It's enjoying an unprecedented level of popularity and prestige, but its adherents still have the warm-and-cozy feeling of cult membership. This phenomenon is on lavish display at the annual ZAP tasting, a boisterous party that traditionally takes place on the Saturday before the Super Bowl. Certified in the Guinness Book of World Records as the world's biggest one-varietal wine tasting, the event attracted more than 200 wineries and 6,000 wine lovers last year. This time, for its 10th anniversary, it's being conducted in two different buildings at San Francisco's Fort Mason Center. Advance tickets cost $35 for ZAP members and $45 for non-members, with a limited amount available at the door for $50 on the day of the event. If you can't make it to the tasting, another easy way to sample the state of Zin is wine.com's selection of Zinfandel in all its forms and guises. _____________________________________________________________________ Wine Team Picks: Lisa Doenecke on Splashy Sparklers and Other Spritzy Delights This is probably one of my favorite categories, so my list came quickly and easily. Sparkling wine and Champagne can be enjoyed on any occasion, with no other reason than pure and simple pleasure. So indulge with these special treats! Meyer-Fonne Cremant d'Alsace Brut Extra, France, $12.00 Dom. Chandon Fleur de Vigne, California, $14.00 Ayala Brut Champagne, France, $28.00 Nicolas Feuillatte 1er Cru Brut Champagne, France, $34.00 Laurent Perrier Ultra-Brut Champagne, France, $54.00 _____________________________________________________________________ TO UNSUBSCRIBE FROM THIS NEWSLETTER, go to: http://wine1.m0.net/m/u/vin/vv.asp?e=jdasovic%40enron.com
Rick and David, Also give me your analysis wherein the Counterparty receivable financing is more generic, without specific references to contracts but a global reference to receivables in connection with a product type, and assume representations by Counterparty to Bank that do not include setoff rights as any type of "permitted encumbrance or charge." Would the Bank still be put on reasonable inquiry vis a vis the Enron position? -----Original Message----- From: Cook, Mary Sent: Monday, October 15, 2001 9:53 AM To: Taylor, Mark E (Legal); 'rantonof@cwt.com'; 'dmitchel@cwt.com' Cc: Shackleton, Sara Subject: Setoff and ISDA Section 7(b) Transfer Provision; Comments on New Draft of Master Netting Item 1. Please refer to Section 7, particularly 7(b), of the ISDA form regarding transfer of receivables and the following setoff language from our schedule. (g) Setoff. (A) Upon the designation or deemed designation of an Early Termination Date the Non-defaulting Party or the non-Affected Party (in either case, "X") may, at its option and in its discretion, setoff, against any amounts Owed to the Defaulting Party or Affected Party (in either case, "Y") in Dollars or any other currency by X or any Affiliate of X under this Agreement or under any other agreement(s), instrument(s) or undertaking(s), any amounts Owed in Dollars or any other currency by Y to X or any of X's Affiliates (irrespective of place of payment or booking office of the obligation) under this Agreement or under any other agreement(s), instrument(s) or undertaking(s). The obligations of Y and X under this Agreement in respect of such amounts shall be deemed satisfied and discharged to the extent of any such setoff exercised by X and/or X's Affiliates. X will give Y notice of any setoff effected under this Section as soon as practicable after the setoff is effected provided that failure to give such notice shall not affect the validity of the setoff. For purposes of this Section, "Owed" shall mean any amounts owed or otherwise accrued and payable (regardless of whether such amounts have been or could be invoiced) as of the Early Termination Date. Amounts subject to the setoff permitted in this Section may be converted by X into any currency in which any obligation Owed is denominated at the rate of exchange at which X, acting in a reasonable manner and in good faith, would be able to purchase the relevant amount of the currency being converted. If an obligation is unascertained, X may in good faith estimate that obligation and setoff in respect of the estimate, subject to the relevant party accounting to the other when the obligation is ascertained. Nothing in this Section shall be effective to create a charge or other security interest except as may be provided under applicable law. This setoff provision shall be without limitation and in addition to any right of setoff, netting, offset, combination of accounts, counterclaim, lien or other right to which X or any of X's Affiliates is at any time otherwise entitled (whether by operation of law, contract or otherwise). Each of the parties represents and acknowledges that the rights set forth in this Section are an integral part of this Agreement between the parties and that without such rights the parties would not be willing to enter into Transactions. Each of the parties further acknowledges that it is executing this Agreement on behalf of itself as principal and, with respect to this Section, as agent on behalf of its Affiliates, which Affiliates shall receive the benefits of this Section and otherwise be bound as if such Affiliates had directly signed this Agreement as it relates to this Section. (B) Notwithstanding any provision to the contrary contained in this Agreement, the Non-defaulting Party or non-Affected Party, as the case may be, shall not be required to pay to the Defaulting Party or Affected Party any amount under Section 6(e) until the Non-defaulting Party or non-Affected Party receives confirmation satisfactory to it in its reasonable discretion (which may include an opinion of its counsel) that all other obligations of any kind whatsoever (whether pursuant to Specified Indebtedness as defined herein or otherwise) of the Defaulting Party or Affected Party to make any payments to the Non-defaulting Party or non-Affected Party or any of its Affiliates under this Agreement or under any other agreement(s), instrument(s) or undertaking(s), which are Owed as of the Early Termination Date hereof have been fully and finally satisfied. The following are three areas of questions. A. Should a Counterparty effect an assignment of receivables under Section 7(b) for a financing to Bank, what is Enron's "priority" position (assuming Bank has filed a financing statement)? Is the analysis below correct? 1. Bank takes receivable assignment under contract subject to Enron setoff rights because Bank would be held to actual knowledge of the express setoff right in the contract under which it is taking the receivables. 2. Is there any method by which the Bank can prime Enron (assuming Enron has made no public filings) without Enron's written consent? B. Assume a master netting agreement is in place. I believe our assignment provisions protect us and are more prohibitive than the ISDA; however, we may want to expressly cite assignment of receivables rather than the master agreement and transactions "as security". Please review and advise of any particular language you think should be added. C. Do you have any suggested language that we might add to the form 7(b) provision via our schedule, or is it necessary? For example, adding at the end of 7(b), ";provided, any such assignment shall be made expressly subject [and subordinate] to this Agreement, including, without limitation, all rights of [ENA] under Section 6 and [reference setoff section]." Item 2. Can I get any other comments on the revised draft of master netting agreement? Cordially, Mary Cook Enron North America Corp. 1400 Smith, 38th Floor, Legal Houston, Texas 77002-7361 (713) 345-7732 (713) 646-3393 (fax) mary.cook@enron.com
---------------------- Forwarded by Jeff Dasovich/SFO/EES on 09/01/2000 01:34 PM --------------------------- "Karen Edson" <kedson@ns.net> on 09/01/2000 12:16:17 PM To: "Baker Carolyn (E-mail)" <cabaker@duke-energy.com>, "Bill Carlson (E-mail)" <william_carlson@wastemanagement.com>, "Bill Woods (E-mail)" <billw@calpine.com>, "Curt Hatton (E-mail)" <curt.hatton@gen.pge.com>, "Curtis Kebler (E-mail)" <curtis_l_kebler@reliantenergy.com>, "David Keane (E-mail)" <dnke@dynegy.com>, "David Parquet (E-mail)" <dparque@ect.enron.com>, "Duane Nelsen (E-mail)" <duanenelsen@msn.com>, "Ed Tomeo (E-mail)" <ed.tomeo@uaecorp.com>, "Edward Maddox (E-mail)" <emaddox@seawestwindpower.com>, "Eileen Kock (E-mail)" <eileenk@calpine.com>, "Ellery Bob (E-mail)" <bellery@spi-ind.com>, "Escalante Bob (E-mail)" <riobravogm@aol.com>, "Frank DeRosa (E-mail)" <fderosa@sanfrancisco.usgen.com>, "Greg Blue (E-mail)" <gtbl@dynegy.com>, "Hap Boyd (E-mail)" <rboyd@enron.com>, "Jack Pigott (E-mail)" <jackp@calpine.com>, "Jan Smunty-Jones (E-mail)" <smutny@iepa.com>, "Jim Willey (E-mail)" <elliottsa@earthlink.net>, "Joe Greco (E-mail)" <joe.greco@uaecorp.com>, "Joe Ronan (E-mail)" <joer@calpine.com>, "John Stout (E-mail)" <john_h_stout@reliantenergy.com>, "Jonathan Weisgall (E-mail)" <jweisgall@aol.com>, "Katie Kaplan (E-mail)" <kaplan@iepa.com>, "Kent Fickett (E-mail)" <kfickett@usgen.com>, "Lynn Lednicky (E-mail)" <lale@dynegy.com>, "Marty McFadden (E-mail)" <marty_mcfadden@ogden-energy.com>, "Paula Soos (E-mail)" <paula_soos@ogden-energy.com>, "Robert Lamkin (E-mail)" <rllamkin@seiworldwide.com>, "Roger Pelote (E-mail)" <rpelote@energy.twc.com>, "Steve Ponder (E-mail)" <steve_ponder@fpl.com>, "Steven Kelly (E-mail)" <steven@iepa.com>, "Sue Mara (E-mail)" <smara@enron.com>, "Tony Wetzel (E-mail)" <twetzel@thermoecotek.com>, "Trond Aschehoug (E-mail)" <taschehoug@thermoecotek.com>, "William Hall (E-mail)" <wfhall2@duke-energy.com>, "Richard Hyde (E-mail)" <rwhyde@duke-energy.com>, "Sandi McCubbin (E-mail)" <smccubbi@ees.enron.com>, "Stephanie Newell (E-mail)" <stephanie-newell@reliantenergy.com>, "Jeff Dasovich (E-mail)" <jdasovic@enron.com> cc: "Ann Kelly (E-mail)" <kelly@hnks.com>, "Bev Hansen (E-mail)" <bhansen@lhom.com>, "Bob Judd (E-mail)" <caltech@ns.net>, "Govenar Scott (E-mail)" <sgovenar@govadv.com>, "Hedy Govenar (E-mail)" <hgovenar@govadv.com>, "Levake Barbara (E-mail)" <blevake@syix.com>, "Monagan Mike (E-mail)" <mrmonagan@aol.com>, "Rob Ross (E-mail)" <robbiz@cwo.com>, "Ron Tom (E-mail)" <rtom@govadv.com>, "Rudman Cary (E-mail)" <cjrudman@softcom.net>, "Susan McCabe (E-mail)" <sfmccabe@mindspring.com>, "Julee Malinowski-Ball (E-mail)" <jmball@ns.net> Subject: Legislative Update I will send out a real legislative report next week. In the meantime, I thought you might appreciate a quick run-down of what actually happened in the final hours of this year's wild legislative session. The good news is that the public benefit charge bill passed easily with a 10-year term and no statutory harm was done. The bad news is that utilities captured the deregulation debate and successfully painted generators as villains and the wholesale market as "broken." Major legislative actions on energy matters follow. If you have any questions or would like a copy of final legislation, please call. AB 995 (Wright) and SB 1194 (Sher), which extend public benefit charges for energy conservation, renewable energy development, and RD&D, passed the State Legislature by large margins. Recent indications are that the Governor will sign the bills, although interested companies should join IEP in sending letters urging him to do so. Power plant siting was front and center the last week of the session. As recently as Wednesday of this week, the bill was so bad for new power plant development that IEP opposed the expedited siting provisions. They were rewritten by Republican staff and CEC attorneys to provide a 6-month process for a mitigated negative declaration of environmental impacts that might help those few entities that can start the process in full compliance with local rules. This provision is available for both combined cycle facilities and peaking facilities. The bill also includes a provision for four-month approval of amendments to pending applications providing for the installation of temporary peaking generation on sites that will be developed into combined cycle facilities within three years. The CEC expects this to apply so a single pending application. Finally, the bill includes language directing the CPUC and the EOB to be helpful on ISO issues that affect the willingness self-generators to remain interconnected with the grid. Utility efforts to craft legislation assuring them of collection of large negative balances in their Transition Revenue Accounts failed when they could not reach agreement with representatives of large customer groups. In its place, the Legislature passed a non-binding resolution directing the CPUC to investigate the issue and including highly offensive language on $100 price caps and retroactive recalculation of market clearing prices. Legislation establishing a retroactive cap on SDG&E rates and providing no assurance of cost recovery to Sempra passed the Legislature. Companion legislation that most observers expect the Governor to veto provides $150 million of General Fund money to SDG&E. A draft of so-called "sunshine" legislation surfaced late in the process. The draft empowered the Electricity Oversight Board to collect anything it might be interested in from the ISO, PX, utilities, generators, and marketers and to treat the information confidentially. The draft faced unified opposition and did not make its way into any legislation. AB 1002 (Wright) establishing public benefit charges on the natural gas system passed the Legislature. It continues to include language exempting electricity generation from the charges. Karen Edson kedson@ns.net 916/552-7070
Enron North America Corp. Mary Cook 1400 Smith, 38th Floor, Legal Houston, Texas 77002-7361 (713) 345-7732 (phone) (713) 646-3490 (fax) mary.cook@enron.com ----- Forwarded by Mary Cook/HOU/ECT on 09/12/2000 09:13 AM ----- Barton Clark 09/11/2000 07:06 PM To: Lisa King/HOU/ECT@ECT cc: Stuart Zisman/HOU/ECT@ECT, Richard Lydecker/Corp/Enron@Enron, Mary Cook/HOU/ECT@ECT Subject: Project Raptor - Private Hedge Candidates PRIVILEGED AND CONFIDENTIAL. I think I am one of the people who raised the issue about the Asset Description in my mark-up of the Raptor I Derivative Proposal Sheet that I received this am from Stuart and returned to him midday. As I read the memo below, I am instructed to advise you about the nature of the underlying asset. The asset is Series B Preferred Stock of Catalytica Combustion Systems, Inc., and an option to acquire same. Currently, pursuant to a Series B Stock Purchase Agreement among Catalytica Combustion Systems, Inc. ( CCSI), Catalytica, Inc. ( CCSI's parent and currently holder of Series A and common stock of CCSI representing approximately 83% of the ownership of CCSI ) and Enron Ventures Corp. ( predecessor in interest to Sundance Assets, L.P.), Sundance owns 1,339,286 shares of Series B Preferred Stock and an option to purchase 535,715 shares of Series B Preferred Stock. There are provisions calling for the adjustment of the number of option shares subject to the option but I am not aware that any transactions that would cause such adjustment provisions, other that the stock split referred to below, to apply. The Series B stock is convertible to CCSI common stock, is restricted stock, and the Stock Purchase Agreement provides for registration rights. Currently, Tom White and Jack Urquhart both serve on the CCSI Boards of Directors, and Jack serves on the Catalytica Inc. Board. Under an Omnibus Agreement entered into in September 2000, in connection with the restructuring of Enron's transactions with CCSI and in connection with the proposed acquisition of Catalytica, Inc, by a third party ( DSM, a Dutch pharmaceutical company) and the distribution of Catalytica's CCSI shares to Catalytica's stockholders immediately prior to that acquisition, we agreed to convert the Series B to CCSI common, agreed to vote for a 2 for 1 stock split, and negotiated a cashless exercise of the option after the effective date of the spin off. The effectiveness of these provisions is dependent upon the effectiveness of distribution and acquisition The option itself ( as amended by the Omnibus Agreement and otherwise ) expires January 14, 2001. The distribution is expected to occur in the fourth quarter of 2000, but is subject to a variety of conditions. After the distribution and concurrent closing of the Catalyica acquisition transaction, CCSI ( which formerly looked to its parent for financing and much of its administrative and other support) will be a stand- alone public company listed on NASDAQ, with the uncertainties attendant thereto. The Omnibus Agreement also contains provisions amending Sundance's registration rights, the board representation provisions in the original Stock Purchase Agreement, and certain transfer restrictions ( to liberalize them and allow the Raptor transaction to take place). There are also agreements related to Enron North America's Xonon Technology Implementation Agreement with GE and West LB, which do not directly affect the Series B Preferred. These provisions instead go to the development program for CCSI's technology, to which ENA contributes funding, and conform that agreement to a change in CCSI's and GE's strategy for commercializing the technology. The funding obligation itself is interconnected with the turbine purchases for ENA's Pastoria project in California, but I don't believe that transaction needs analysis for these purposes, To comply with SEC rules in connection with the distribution, CCSI has filed an S-1 registration statement registering the CCSI common stock to be distributed to Catalytica's shareholders with the SEC, and Catalytica, Inc. has filed a merger proxy statement with the SEC in connection with its solicitation of Catalytica stockholder approval to the acquisition transaction. Comments are expected from the SEC in 4 to 6 weeks. Please give me a call if you wish to discuss this matter further, and I am instructed to request that you return the revised copy of the Raptor I Proposal Sheet to me and copy Mary Cook and Lisa Mellancamp thereon. The foregoing description may be more than you need for the summary, but it really is a very abbreviated snapshot of the transaction. All the documents related to the Preferred Stock and Option, including the executed Omnibus Agreement and the Stock Purchase Agreement, have been previously delivered to Sara Shackleton and Hope Vargas. ----- Forwarded by Barton Clark/HOU/ECT on 09/11/2000 06:18 PM ----- Stuart Zisman 09/11/2000 05:15 PM To: James Grace/Corp/Enron@ENRON, Barton Clark/HOU/ECT@ECT, Dan Lyons/HOU/ECT@ECT, Peter del Vecchio/HOU/ECT@ECT, Peter Keohane/CAL/ECT@ECT, Anne C Koehler/HOU/ECT@ECT, Travis McCullough/HOU/ECT@ECT, Teresa G Bushman/HOU/ECT@ECT, Lance Schuler-Legal/HOU/ECT@ECT cc: Julia Murray/HOU/ECT@ECT, Lisa Mellencamp/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT Subject: Project Raptor - Private Hedge Candidates It has come to my attention that questions have been raised in reviewing the Raptor I Derivative Proposal Sheets regarding the type of information that should be set forth in the category entitled "ASSET DESCRIPTION". The Master Derivatives Agreement ("MDA") requires that the Proposal Sheets describe the "Assets" with respect to which the derivative transaction is to be executed. For purposes of the MDA, "Assets" is defined as "assets, including without limitation common stock, partnership interests, member interests. other ownership interests, and other financial and physical assets." Therefore, the description should include both the nature of the "Asset" (i.e. whether it is an equity interest, a loan, working interest, etc.) and a little bit about the company (the entity in which ENA holds the interest or has the loan or working interest). Any comments to the Proposal Sheets should be delivered ASAP to the "Enron person completing this form" (This is the 3rd line under the heading "GENERAL" on each of the Proposal Sheets) along with a request that a revised Proposal Sheet be returned to the lawyer providing comments with copies to both Mary Cook and Lisa Mellencamp. The pressure to complete these Raptor hedges remains high and therefore your immediate attention is greatly appreciated. Many thanks. Stuart
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Vince, Please find below some text for Eric's letter. I hope it is helpful for your development of the letter. If you have questions or would like some other information, please let me know. Also, on the question of Enron letterhead, I suppose the desired form of submission is via the web site. Unless you have electronic letterhead, the issue may be moot. Martin Eric Cope worked as a summer associate in the Research Group during the summer of 2001. During this time, Eric worked on a variety of projects requiring a diverse set of skills. In all cases, he quickly grasped the scope and context of the problems at hand. While some direction was given in each case, Eric was often charged with developing the approach details independently, and he executed the tasks very effectively. One major project for the summer was to develop a web-browser-based trading simulation platform (TSP). The TSP would create user accounts, require user logons, post simulated market information, post simulated commidity prices, accept and execute buy and sell transactions for users, and track user account information such as positions, order history, and buying power. The TSP would allow for the use of human users as well as software agent. Simulated commidity prices could be histroical prices, ficticious calculated prices, or bid/offer prices based on some update algorithms. The primary goal was to create a framework to test different udpate algorithms and trading strategies. Eric immediately arranged for the appropriate reference materials to develop the database and associated software infrastructure. In short order, a simple site was up for users to create accounts and begin "trading" commodities. The project ended before extensive algorithm evaluation could begin, however, the TSP goes a long way to making such evaluations possible. Other projects included the development of forecast models for motion picture box office revenues, advertising media placement prices, and long-distance voice telephony prices. In many of the cases, data were scarce, as were definitive instructions. Eric analyzed the problem to develop a focused approach, always in consultation and discussion with others, but never with "hand-holding" or intense oversight. His co-workers and immediate supervisor quickly developed confidence in Eric's ability to take general direction and achieve productive results. Such confidence and ability is crucial in an environment with limited structure, such as we had. -----Original Message----- From: Kaminski, Vince J Sent: Friday, January 25, 2002 1:00 PM To: Lin, Martin Subject: FW: Reference request regarding Eric W Cope S05371/R966 Martin, A request for the letter of recommendation. Vince -----Original Message----- From: VKaminski@aol.com@ENRON Sent: Thursday, January 24, 2002 8:03 PM To: Kaminski, Vince J Subject: Fwd: Reference request regarding Eric W Cope S05371/R966 Content-Transfer-Encoding: 7bit Return-Path: <kbl@research.att.com> Received: from rly-za04.mx.aol.com (rly-za04.mail.aol.com [172.31.36.100]) by air-za05.mail.aol.com (v83.35) with ESMTP id MAILINZA51-0124173949; Thu, 24 Jan 2002 17:39:49 -0500 Received: from mail-green.research.att.com (mail-green.research.att.com [135.207.30.103]) by rly-za04.mx.aol.com (v82.22) with ESMTP id MAILRELAYINZA48-0124173900; Thu, 24 Jan 2002 17:39:00 -0500 Received: from akalice.research.att.com (akalice.research.att.com [135.207.26.22]) by mail-green.research.att.com (Postfix) with ESMTP id D01F81E0AB for <VKaminski@aol.com>; Thu, 24 Jan 2002 17:38:57 -0500 (EST) Received: (from kbl@localhost) by akalice.research.att.com (980427.SGI.8.8.8/8.8.7) id RAA52811; Thu, 24 Jan 2002 17:38:57 -0500 (EST) Date: Thu, 24 Jan 2002 17:38:57 -0500 (EST) Message-Id: <200201242238.RAA52811@akalice.research.att.com> From: AT&T Web Resume Database <resume@research.att.com> To: VKaminski@aol.com, kbl@research.att.com Subject: Reference request regarding Eric W Cope S05371/R966 X-Mailer: Unknown (No Version) Content-Type: text/plain; charset="US-ASCII" Dear Colleague: Eric W Cope has submitted an application to AT&T Labs, with a request that we seek a reference letter from you in support of this application. We thank you in advance for providing this letter. The reference letters are a very important part of our evaluation process, but we also recognize that they call for a significant measure of time and attention on your part. In this message, we first describe below the three options for submittal of the letter, and then, in the final paragraphs, you will find some comments about the nature of the job applied for. We know your time is precious, so we have tried to make the process as efficient as possible. If you have access to a browser from your mailer, then the easiest thing is to use the URL given below: http://www.research.att.com/~kbl/cgi-bin/resumedocs/S05371/R966 Via this web page, you can submit text, html, postscript, or pdf files. Please note that this URL should be used ONLY by you, and ONLY for this particular student. It is linked directly to the student's resume, and the processing occurs automatically and immediately. ----------------------------------------------------------------------- If it is inconvenient to use the URL, you may email your letter by replying to this email, but please help us out, if you use this option, by sending the letter as plain text only, not as a word processor file, without indent, and not as an attachment. Also please make sure that your mailer includes the entire subject line in your reply message. If you use this option, please note that the processing of your letter will occur manually, and therefore may entail a considerable delay. Our system will format the emailed text appropriately for display, unless you ask that it be treated as fixed-format. ----------------------------------------------------------------------- As a third option, if you prefer you may submit your letter as hard copy. Please note that we discourage this approach, since electronic letters can be distributed far more effectively to the hiring managers. However, if you wish, please see http://www.research.att.com/academic/Addresses.html for information on the proper address to use for various purposes. ----------------------------------------------------------------------- Finally, a word about the position for which the student has applied: This student has applied for a summer internship. We hire summer interns roughly from the third year of undergraduate work through graduate school. The summer projects vary in level, depending on the student involved. The students normally work in a one-on-one fashion with a member of staff on some facet of the ongoing research work in the lab, but they are expected to function somewhat independently after an initial period of familiarization with the work. Accordingly, we are interested in information you may have as to the student's adaptability, ability to learn new material, and to work effectively with minimal supervision. Thank you in advance for your cooperation. Ken Lyons, AT&T Labs Web Resume Database
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Hey Russell (as well as Dan and Debra), Pursuant to our conversation of this morning, I just want to confirm the following. 1. We have agreed that we will use separate guarantees (for the obligations of Engage Energy Canada, L.P. ("Engage Canada")) with respect to each of Enron Canada Corp. ("ECC") and Enron North America Corp. ("ENA"). This will allow for the appropriate guarantees to reference the peculiarities of each of Canadian and American law (as applicable) as well as deal with the potential "permanent establishment" tax issues we discussed. As a result, Dan does not need to review the draft guarantee I sent to him on Wednesday. 2. You are going to send me a revised credit sheet for the ECC-Engage Canada master physical agreement which removes references to the obligations of Engage Canada to ENA (likely requiring a guarantee of Westcoast Gas Inc. (on behalf of Engage Canada) to ECC in the amount of US$15million (the "New ECC Guarantee"). 3. Dan is to coordinate negotiating/obtaining a new guarantee from Westcoast Gas Inc. (on behalf of Engage Canada) to ENA in the amount of US$5 million (pursuant to the master physical agreement between Engage Canada and ENA). 4. I am still not sure what we are doing with respect to the "Enron Corp." guarantee which was provided to Engage Canada and Engage Energy US, L.P. ("Engage US") in the amount of US$35million (which guarantees the obligations of ENA, EPMI and ECC) (the "Existing Enron Corp. Guarantee"). According to the credit sheet last provided to me, Enron Corp. is to provide a guarantee in the amount of US$25million but you were going to check to see if we were leaving the Existing Enron Corp. Guarantee in place. If we are replacing/amending the Existing Enron Corp. Guarantee, we need to coordinate with counsel from all three of ENA, EPMI and ECC to ensure that we are properly revoking the Existing Enron Corp. Guarantee or amending it appropriately. Ultimately, I would prefer that the Existing Enron Guarantee be amended to remove the references to ECC such that we can arrange for a separate Enron Corp guarantee on behalf of ECC. This would allow for greater flexibility/efficiency in the event that the industry or trading relationship between ECC and Engage Canada develops and future amendments are required. Please let me know how you would like me to proceed with respect to point 4. Thanks, Mark Powell To: Mark Powell/CAL/ECT@ECT cc: Dan J Hyvl/HOU/ECT@ECT, Debra Perlingiere/HOU/ECT@ECT Subject: Re: Engage Energy Canada L.P. Guarantee Mark, The guaranty you are providing to Engage Energy Canada should cover both ECC and ENA although should only reference the Master Firm Contract between ECC and Engage Canada. Dan has been working on a separate guaranty that will reference the Master Contract between ENA and Engage US that is currently being drafted. The reason ENA is included on the guaranty for Engage Canada is because of business done at Dawn in Eastern Canada through ENA. If you and Dan want to issue one guaranty to Engage US and Engage Canada referencing both contracts I think that would be a good idea, the guaranty amount should be between $45MM and $50MM and include several Enron entities: ENA, HPL, EPMI (referencing the Master Energy agreement), Clinton Energy Management Services, Inc and ECC. Let's discuss further in the morning as to how about resolving this. Thanks Russell From: Mark Powell\CAL\ECT 09/20/2000 02:53 PM Sent by: Mark Powell To: Dan J Hyvl/HOU/ECT@ECT cc: Russell Diamond/HOU/ECT@ECT Subject: Engage Energy Canada L.P. Guarantee In furtherance of the message which I left for you, please find attached a copy of a replacement guarantee for your review. As you are aware, Enron is currently in the process of amending a number of guarantees with respect to various Engage Energy entities. Under the project, the US$25 million guarantee provided to Enron Corp. and its subsidiaries to guarantee the obligations of Engage Energy Canada L.P. and Engage Energy US L.P. ,as provided by The Coastal Corp. (the "Existing Guarantee"), is to be replaced with a number of guarantees which are segmented by the Engage Energy entities and the type of contract (i.e. physical v. financial). As part of this project, Russell Diamond has provided Enron Canada Corp. with revised credit terms for dealing with Engage Energy Canada, L.P. under which Westcoast Gas Inc. is to provide a US$20million guarantee of the obligations of Engage Energy Canada L.P. under the existing master physical gas purchase/sale agreement between the Engage Energy Canada L.P. and Enron Canada Corp. (the "ECC Physical Master") as well as the master physical gas purchase/sale agreement between Engage Energy Canada L.P. and Enron North America Corp. (the "ENA Physical Master"). Russell had allocated US$15 million of the replacement guarantee to the ECC Physical Master and US$5million to the ENA Physical Master. Due to other inadequacies in the ECC Physical Master, we have prepared an "Amended and Restated" ECC Physical Master which includes a number of significant terms in addition to referring to the replacement guarantee (which we are quite eager to have Engage execute). As a result, I have prepared a draft of replacement guarantee (to be received from Westcoast Gas Inc.) to accompany the Amended and Restated ECC Physical Master. However, to ensure that the replacement guarantee meets your requirements, I am looking for your input. Please find attached a copy of the draft replacement guarantee as blacklined to indicate the changes which have been made to the Enron Canada Corp. standard guarantee to incorporate the obligations owing to Enron North America Corp. As you will see, there are a few bullets for which I require your assistance in completing (i.e. date the of ENA Physical Master and the appropriate contact information for notices). When you get the opportunity, could you please review the blacklined replacement guarantee? Once again, we are quite eager to send out the Amended and Restated ECC Physical Master. Thanks for your help. Mark Powell ((403) 974-6708) Note to Russell: Russell, you were going to confirm for me that the existing Enron Corp. guarantee delivered to Engage Energy Canada L.P. and Engage Energy US L.P. to secure the obligations of Enron Canada Corp., Enron North America Corp. and Enron Power Marketing, Inc. (in the amount of $35 million) dated June 1, 1998 is NOT to be replaced. Has there been any progress on this front?
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Notice No. 01-164 May 18, 2001 TO: All NYMEX Division Members/Member Firms All NYMEX Division Clearing Members All NYMEX Division Floor Traders All NYMEX Division Operations Managers FROM: George Henderson, Vice President RE: Options Expiration Operational Procedures for the Trading Floor and Clearing Members ________________________________________________________________ The expiration date for the June 2001 options contract for Cinergy (NOM1), Entergy (OTM1), Palo Verde (VOM1) and Cob (WOM1) is Thursday, May 24, 2001. GENERAL OPERATIONAL PROCEDURES All Clearing Members and Qualified Floor Traders that carried an options position as of the close of business day prior to the expiration day, or engaged in trading activity on Expiration Day in the expiring options contract will be required to have a knowledgeable, duly authorized representative present at their normal work station promptly at 5:30 p.m. until released by the Exchange staff as specified below. All adjustments and/or corrections, must be accompanied by relevant supporting documentation prior to being incorporated into expiration processing, in essence making the expiration processing an extension of the afternoon trade resolution procedures. All input to the NYMEX Clearing Department will conclude no later than 30 minutes after floor representatives are released. Exchange Clearing (299-2110), Floor Trade Correction (299-2068 and 299-2169) personnel, as well as a representative of the Floor Committee will be available to assist with the processing of notices of Exercise and Abandonment, position transfers, trade corrections and other questions or problems you may have. CLEARING DEPARTMENT OPERATIONAL PROCEDURES The Option Expiration process is a screen based process for which all information is provided on the screens on C21 terminals. No Option Expiration Reports will be provided. The following screens will assist you through the Option Expiration process: MEMBER TRADE INQUIRY Contains real-time top day trade information, trade information for the previous 4 business days and trades adjusted for the previous 4 business days by adjustment date. SINGLE POSITION MAINTENANCE Contains a real-time snapshot for each option series from the start of day position to the projected end of day position. REVIEW ACCEPT REJECT TRANSFERS Contains all trade and position transfers "TO" your firm and the status of each transfer. REVIEW SUBMITTED TRANSFERS Contains all trade and position transfer "FROM" your firm and the status of each transfer. EXERCISE NOTICE SUBMISSION Contains your available long position and an input field to enter the number of long positions you wish to exercise. DO NOT EXERCISE SUBMISSION Contains your available long position and an input field to enter the number of long positions you wish to abandon. POSITION CHANGE SUBMISSION PCS may be submitted either by manual input or by electronic transmission. Any PCS input on a Clearing 21 terminal will be the input processed by the system. This input may be made at any time prior to 6:45 p.m. Any PCS input via transmission for that contract series will be disregarded. ALL POSITIONS ARE DEEMED FINAL Upon completion of all PCS input, all positions will be deemed final. EXERCISE/ASSIGNMENT INFORMATION Will be available to you on the Single Position Maintenance window by contract series or the Assignment List window which contains all your Assignments on one window. You will be notified of its availability by C21 E-Mail and by Fast Facts. This should occur within 1 hour of the last PCS input. All Clearing Members are required to have an authorized representative(s) at their C21 workstations in preparation for any communication during the expiration process. FAST FACTS Clearing Members should call the Fast Facts information service 301-4871, access code 700 for event messages advising Members of the event status. E-MAIL Clearing Members should read their C21 E-Mail messages immediately to be aware of event status. The standard event Fast Facts and/or E-Mail messages and the sequence in which they will be announced are: Standard Event Message: Announce Out-of-the Money Exercise and In-the-Money Do Not Exercise Submissions Approximate Time of Message Availability: 5:45 PM Usual Event Time: 5:45 PM Announced via Fast Facts Standard Event Message: Announce Final Input to C21 Cutoff Time Approximate Time of Message Availability: 6:30 PM Usual Event Time: 6:45 PM Announced via e-mail Standard Event Message: All positions are deemed final Approximate Time of Message Availability: 7:30 PM Usual Event Time: 6:45 PM Announced via Fast Facts Standard Event Message: Announce Exercise/Assignment Information Available on the Single Position Maintenance Windows Approximate Time of Message Availability: 8:25 PM Usual Event Time: 8:30 PM Announced via Fast Facts and e-mail Standard Event Message: All Report Distribution is completed Approximate Time of Message Availability: 11:00 PM Usual Event Time: 11:00 PM Announced via Fast Facts The times appearing in the Usual Event Time column are based on normal operational conditions and could vary. NYMEX EXPIRATION DAY PROCESSING OVERVIEW OF MEMBER REQUIREMENTS Time: 5:30 PM Activity: Exercise Notice Submission Event: Input to C21 Cutoff Time Reference Number: 1 Time: 5:30 PM Activity: Do Not Exercise Submission Event: Input to C21 Cutoff Time Reference Number: 2 Time: 5:45 PM Activity: Announce Out-of-the-Money Exercise and In-the-Money Do Not Exercise Submissions Event: Fast Facts Notice Reference Number: 3 Time: 6:30 PM Activity: Announce Final Input to C21 Cutoff Time Event: C21 E-mail Reference Number: 4 Time: 6:45 PM Activity: Final Input to C21 Cutoff Time Reference Number: 5 Time: 7:30 PM Activity: All Positions are Deemed Final Event: Fast Facts Notice Reference Number: 6 Time: 8:25 PM Activity: Announce Exercise/Assignment Information Available on the Single Position Maintenance Windows Event: Fast Facts Notice and C21 E-mail Reference Number: 7 If you have any questions concerning these procedures, please contact Charles V. Bebel at 299-2130, Angel Rivera at 299-2150 or Anthony Di Benedetto at 299-2152 prior to the expiration date. __________________________________________________ Please click on the link below to indicate you have received this email. "http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdo c=(01-164)" Note: If you click on the above line and nothing happens, please copy the text between the quotes, open your internet browser, paste it into the web site address and press Return.
----- Forwarded by Zionette Vincent/NA/Enron on 05/11/01 01:34 PM ----- Jerry Dunn <jerry.dunn@travelpark.com> 05/10/01 05:27 PM To: "'ZIONETTE.VINCENT@ENRON.COM'" <ZIONETTE.VINCENT@ENRON.COM> cc: Subject: Update - Stacey White - new hotel Oslo AGENT JD/JD BOOKING REF ZKUSTS WHITE/STACEY EB SUITE 3106E TTL 2 TKTS ENRON CORP PAPER TKTS DATE: MAY 10 2001 SERVICE DATE FROM TO DEPART ARRIVE AIR FRANCE 11MAY HOUSTON TX PARIS 410P 845A AF 33 C FRI G.BUSH INTERCO CHARLES DE GAU 12MAY NON SMOKING TERMINAL DOM TERMINAL 2C MEAL/BREAKFAST NON STOP RESERVATION CONFIRMED 9:35 DURATION AIRCRAFT: AIRBUS INDUSTRIE A340-300 SEAT 08J NO SMOKING CONFIRMED WHITE/STACEY(ID HOTEL 12MAY INTERCONTINENTAL PARIS 13MAY 3 RUE DE CASTIGLIONE PARIS, 75009 FRANCE TELEPHONE: 33-1 44771111 FAX: 33-1 44771460 CONFIRMATION: 2153911 SINGLE ROOM RATE: HFH FRF 2361.45 PER NIGHT GUARANTEE GIVEN ENRON CORP NONSMK 2 QUEEN BEDS HOTEL REQUIRES CANCELLATION BY 1DAY PRIOR TO DAY OF ARRIVAL AIR FRANCE 13MAY PARIS OSLO 1235P 255P AF 2374 C SUN CHARLES DE GAU OSLO AIRPORT NON SMOKING TERMINAL 2F MEAL NON STOP RESERVATION CONFIRMED 2:20 DURATION AIRCRAFT OWNER: YS PROTEUS AIRCRAFT: FOKKER 100 SEAT 01A NO SMOKING CONFIRMED WHITE/STACEY(ID HOTEL 13MAY SCANDIC HOTEL SJOELYST 18MAY SJOELYST PLASS 5 OSLO, 0212 NORWAY TELEPHONE: (+47) 23 155100 FAX: (+47) 23 155111 CONFIRMATION: 61QO8O8USM7 SINGLE ROOM SINGLE BED RATE: TSA NOK 1075.00 PER NIGHT GUARANTEE GIVEN CANCELLATION POLICY: REQUIRES CANCEL BY 6PM DAY OF ARRIVAL TAX: INCLUDED MEAL: INCLUDES BREAKFAST SERVICE: INCLUDED ENRON CORP RQST NONSMKG ROOM HOTEL REQUIRES CANCELLATION BY 6PM DAY OF ARRIVAL FINNAIR 17MAY OSLO HELSINKI 845A 1115A AY 652 C THU OSLO AIRPORT HELSINKI VANTA NON SMOKING TERMINAL 2 BREAKFAST NON STOP RESERVATION CONFIRMED 1:30 DURATION AIRCRAFT: MC DONNELL DOUGLAS MD-82 FINNAIR 17MAY HELSINKI OSLO 555P 630P AY 657 C THU HELSINKI VANTA OSLO AIRPORT NON SMOKING TERMINAL 2 COLD MEAL NON STOP RESERVATION CONFIRMED 1:35 DURATION AIRCRAFT: MC DONNELL DOUGLAS MD-82 AIR FRANCE 18MAY OSLO PARIS 705A 930A AF 1275 C FRI OSLO AIRPORT CHARLES DE GAU NON SMOKING TERMINAL 2F BREAKFAST NON STOP RESERVATION CONFIRMED 2:25 DURATION AIRCRAFT: BOEING 737-500 SEAT 01A NO SMOKING CONFIRMED WHITE/STACEY(ID AIR FRANCE 18MAY PARIS HOUSTON TX 1020A 200P AF 36 C FRI CHARLES DE GAU G.BUSH INTERCO NON SMOKING TERMINAL 2C TERMINAL DOM MEAL/SNACK NON STOP RESERVATION CONFIRMED 10:40 DURATION AIRCRAFT: AIRBUS INDUSTRIE A340-300 SEAT 04A NO SMOKING CONFIRMED WHITE/STACEY(ID ************************************************ YOUR TICKET REFLECTS A NEGOTIATED DISCOUNT FROM THE TAP THE PUBLISHED FARE FOR THIS TICKET IS $7118.55 ********************************************** MISCELLANEOUS 15SEP HOUSTON TX SAT THANK YOU FOR USING THE TAP RESERVATION NUMBER(S) AF/2FEYXX AY/H81GF WHITE/STACEY S5C083ER1038 AF FREQUENT FLYER COWF337049 ASSISTANT: Z VINCENT - 345-4858 *************************************** INTL TVLRS: CARRY SOS WALLET CARD W/ENRON ASSISTANCE INFO CALL SOS MEDICAL EMERGENCY:IN U.S 800 523-6586 CALL SOS MEDICAL EMERGENCY:INTL 215 245-4707 (COLLECT) **************************************** *************************************** U.S.CITIZEN REQUIREMENTS: PASSPORT PASSPORT MUST BE VALID 6 MONTHS BEYOND DATE OF RETURN VERIFY VISA REQUIREMENTS. TRAVEL AGENCY IN THE PARK VISA DEPT:SAM 345-5166 ***************************************** 2 HR CHECK-IN REQUIRED ON INTERNATIONAL FLIGHTS RECONFIRM ALL FLIGHTS LOCALLY WITH EACH CARRIER AIRLINE 72 HOURS PRIOR TO DEPARTURE. FAILURE TO RECONFIRM MAY RESULT IN CANCELLATION. YOUR HOTEL CONCIERGE/FRONT DESK CAN ASSIST YOU. ALL FARES ARE SUBJECT TO CHANGE UNTIL TICKETED/PURCHASED] Jerry Dunn Travel Agency in the Park 1221 Lamar , Ste 718 Houston, Texas 77010 713-860-1832 or 713-650-8080 x1232
NYT article today. Gary -----Original Message----- From: Willis, Erin Sent: Wednesday, October 24, 2001 7:22 AM To: Litton, Todd; Hickerson, Gary; Durst, Philip; Kendall, Heather; Romain, Danielle Subject: NYT: Enron Tries to Dismiss Finance Doubts October 24, 2001 Enron Tries to Dismiss Finance Doubts By FLOYD NORRIS Enron (news/quote) has ample access to cash, the company's chief executive said yesterday as he assured investors that there was no need for additional write-offs stemming from unusual financing activities. In a conference call with investors that was hastily scheduled after Enron's stock plunged on Monday, the chief executive, Kenneth W. Lay, strongly defended the company's chief financial officer and said there was no conflict of interest involved in transactions that the Securities and Exchange Commission was looking into. But he refused to go into detail on the transaction that Enron made with partnerships run by Andrew S. Fastow, the chief financial officer. In addition, Mr. Fastow, while declaring that Enron "expects to continue to have sufficient liquidity to meet normal obligations," declined to answer any questions about it. The conference call, which began just as trading opened on the New York Stock Exchange, at first seemed to be reassuring investors. Within minutes of the beginning of the call, the share price rallied to $23.25. But it soon began falling, and ended the day down 86 cents, at $19.79. The day's low of $19.62 was the lowest since Jan. 12, 1998, and was down 78 percent from the high set by the stock in the summer of 2000. Until recently, most investors focused on the company's reported operating earnings, which showed good results as it became a leading player in energy markets. But the focus has shifted to a series of transactions, some involving off-balance- sheet financing. One, involving partnerships controlled by Mr. Fastow, led to a $1.2 billion reduction in shareholder equity that raised concern last week and led to S.E.C. inquiries that the company disclosed on Monday. One of the company's strongest supporters has been David Fleischer, an analyst at Goldman, Sachs. But he told Mr. Lay on the call yesterday that Enron had to be more forthcoming with information. "There is an appearance that you are hiding something," he said. After the call, Mr. Fleischer expressed disappointment. "They've engaged in a number of transactions that one wonders about, and that are hard to understand," he said in an interview. "They have not been as forthcoming in explaining them" as is needed, he said. But he said he was still recommending the stock. "I don't think accountants and auditors would have allowed total shenanigans," he said. "In the absence of total shenanigans going on at this company, there is tremendous value here." Mr. Lay cited the S.E.C. inquiries as a reason for not discussing details on the transactions involving the partnerships that were controlled by Mr. Fastow. But he emphasized that both he and the company's board "continue to have the highest faith and confidence in Andy." Mr. Lay said that auditors from Arthur Andersen had carefully reviewed Enron's reporting in conjunction with another off-balance-sheet vehicle, called Marlin. That company owns one-third of Azurix (news/quote), an Enron subsidiary that owns Wessex, a British water utility. The auditors "have determined there is no write-down required," he said under questioning by Richard Grubman of Highfields Capital Management, a money management firm. Mr. Grubman said that Marlin owed almost $1 billion on debt that was guaranteed by Enron but had no assets other than the Azurix stake. Noting that Enron had paid about $300 million to buy a third of Azurix from public shareholders and had since taken write-downs on its investment in Azurix, Mr. Grubman asked why the company was not setting up reserves to cover its exposure on that debt, which under a complicated arrangement could end up being satisfied through the issuance of Enron shares. Mr. Lay said that no action was needed but declined to address details. Eventually he cut off Mr. Grubman. "I know you're trying to drive the stock price down, and you've done a pretty good job of it," Mr. Lay said. "But let's move on to the next question." Mr. Fastow said the company was having no problem issuing commercial paper and had $1.85 billion in such debt outstanding. He said it was backed by $3.35 billion in bank lines of credit, of which $1.75 billion will expire next May if it is not renewed. Mr. Lay said he was sorry about "the misunderstanding" that resulted when his brief mention of the $1.2 billion reduction in shareholder equity in a conference call last week was not noticed by some analysts. That reduction would have been apparent if the company had released its balance sheet with the earnings report, but it did not. He said the company would consider releasing balance sheets with earnings reports in the future, but made no promises. The large reduction in shareholder equity did not affect reported earnings, and so was not in the earnings release. But it raised concerns that some of the sophisticated financing techniques used by the company might be effectively keeping losses off the earnings statement. The S.E.C. is expected to look into whether the accounting for that transaction was correct. After one questioner on the call said it would be easier to understand Enron if it released financial statements for the special purpose vehicles that were set up to enter into such transactions as Marlin, Mr. Lay said the company "will look into providing" such statements. Erin Willis Financial Trading Ph: (713) 853-9677 Fx: (713) 646-4810
Energy Boost Electricity generators note Bush's focus on more supply Source: Fort Worth Star - Telegram Publication date: 2001-05-19 Arrival time: 2001-05-21 Electricity generators around the country didn't need to read the Bush administration's energy plan to know there's already a strong market for their product. "It's a bit of frenzy, I would say," Lane Kadel said of demand for the natural gas-fired turbines brokered by his company, Utility Warehouse.com of Portland, Ore. The 5-year-old enterprise, originally started to help electric utilities buy and sell surplus equipment, has seen demand for electricity-generating machinery move into high- voltage territory in recent months. With electricity already in short supply in parts of the country, headlines of rolling blackouts in California, and growth projected to require more power, U.S. electricity generators have announced plans for 312,836 megawatts of new capacity. That's equal to about 40 percent of the nation's existing generating capacity. So it was no surprise to anybody in the industry that electricity figured prominently Thursday in President Bush's energy plan. The plan largely emphasizes the need to add more energy supplies, projecting that the nation will need to add 393,000 megawatts of capacity by 2020. In 1999, the nation added 10,266 megawatts of new capacity, according to the Energy Department. Bush's plan also aims to speed up additions to generating capacity by easing licensing, permitting and other regulatory review, including rules to encourage more nuclear power plants. The Bush plan, industry people say, apparently contains nothing to discourage the industry's push to add supply. "If there is, we haven't seen it," said Mark Stultz, vice president of the Electric Power Supply Association, a group of independent power producers. The plans for new capacity that have already been announced represent more than $150 billion in potential investment in new electricity supply. Not all the planned capacity will be built, at least not right away, said Tom Rose, vice president of public affairs at TXU in Dallas. But a lot will, and the projects that are postponed will probably still go through permitting and land acquisition, "things that don't cost a lot of money," Rose said. With that groundwork done, new capacity could come on line all the faster when the market justifies it, he said. The emphasis on adding supply doesn't please everyone in the electricity business. Jerry Davia, president of Orion Energy in Sausalito, Calif., would rather see the government encourage investment in energy efficiency. Davia's company consults with companies, including San Antonio-based H.E. Butt Grocery Co., to design and finance energy-saving systems. "There's tons of new, energy-efficient technology out there all the time," he said. "There's enough conservation to tackle any problems we have." Energy users are probably in the best position to decide which energy efficiencies make sense financially, but the government could make the economics more attractive with tax credits and other incentives, he said. "I don't see anything that bodes well" in the Bush plan as far as subsidies and credits, he said. "And there's nothing just for California." That's fine with Karl Rabago, managing director of the Rocky Mountain Institute, a not-for-profit organization that advocates efficient use of resources, including energy. Rabago said he doesn't want energy use subsidized, because that short-circuits the market mechanism that forces users to reduce consumption in response to higher prices. At the same time, he also doesn't like aspects of the Bush plan that he believes subsidize energy production. Jesper Michaelsen, sales manager for wind turbine manufacturer NEG Micon USA of Rolling Hills, Ill., said he was disappointed that Bush's plan doesn't set any specific goals for increasing the amount of power generated from renewable sources. Wind and solar sources account for just 2 percent of the nation's total electricity market. But Allen Barnett, who heads solar panel maker AstroPower of Newark, Del., said he's thankful for any attention at all, given the oil-and-gas backgrounds of many Bush advisers. The Bush plan does include tax credits for people who purchase solar panels. "It's the most we could hope for," Barnett said. "I didn't expect them to abandon their roots." The Bush electricity measures that don't deal with adding generating capacity address ways to build a bigger transmission system to carry power from generators to users. Two major recommendations include the creation of a national electricity grid and giving federal regulators power to condemn private property for infrastructure improvements such as new electrical transmission lines and natural gas pipelines to deliver fuel to new generators. Today, the United States has three regional electricity transmission grids: Western, Eastern and Texas, which is mostly on its own grid and - unlike energy-strapped states such as California - has a surplus of electricity. Texas is virtually unconnected to the two regional grids, and the two regional grids likewise aren't efficiently linked. "It's going to lead to a lot of new investment," utility analyst Barry Abramson, of the UBS Warburg investment firm, said of Bush's proposals. "Right now, the country is full of transmission bottlenecks that make the system less efficient and hinder competition and the delivery of power." The 1995 Texas Legislature commissioned a study into tying Texas into the national grids and concluded that it would cost $500 million to $600 million, TXU's Rose said. "It is not easy," he said. "It all has to be done at the same time," because the amount of electricity moving between grids would quickly overload one or two connecting lines. Rose also said many states, including Texas, already allow governments to condemn private property, a process called eminent domain. Public transportation projects provide the most common use of eminent domain, along with the construction of pipelines. Kadel said boosting the nation's electricity infrastructure might be just as important as adding generating capacity. "Right now you don't have any way to move the electricity, so prices are high," he said. This report includes material from The Associated Press.
As discussed ----- Forwarded by Lance Jameson/ENRON_DEVELOPMENT on 12/06/2000 10:20 AM ----- Robert Knight@ECT 12/01/2000 09:55 AM To: Lance Jameson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: FW: Recording Trades from made on Mobile phones ----- Forwarded by Robert Knight/HOU/ECT on 12/01/2000 09:55 AM ----- Keith Dziadek/ENRON@enronXgate 11/29/2000 09:47 AM To: Robert Knight/HOU/ECT@ECT cc: Subject: FW: Recording Trades from made on Mobile phones Robert, Did we ever get an answer to this. -----Original Message----- From: Bruce, Michelle Sent: Wednesday, November 29, 2000 9:33 AM To: McAuliffe, Bob; Dziadek, Keith Cc: Burchfield, Richard Subject: Re: Recording Trades from made on Mobile phones Any progress? ---------------------- Forwarded by Michelle Bruce/HOU/ECT on 11/29/2000 03:32 PM --------------------------- Richard Burchfield 11/17/2000 10:34 AM To: Bob McAuliffe/Corp/Enron, Keith Dziadek/NA/Enron cc: Michelle Bruce/HOU/ECT@ECT Subject: Re: Recording Trades from made on Mobile phones Bob or Keith, Any thoughts on the below issue. Richard ---------------------- Forwarded by Richard Burchfield/HOU/ECT on 11/17/2000 09:29 AM --------------------------- Michelle Bruce 11/17/2000 09:08 AM To: Richard Burchfield/HOU/ECT@ECT cc: Cindy Horn/LON/ECT@ECT, Scott Earnest/HOU/ECT@ECT Subject: Re: Recording Trades from made on Mobile phones Help!!! More trading on unrecorded lines. Thanks, Michelle xt. 57532 ---------------------- Forwarded by Michelle Bruce/HOU/ECT on 11/17/2000 09:06 AM --------------------------- Cindy Horn 11/17/2000 07:23 AM Sent by: Cindy Horn To: Michelle Bruce/HOU/ECT@ECT, Carol Chew/SIN/ECT@ECT cc: Scott Earnest/HOU/ECT@ECT Subject: Re: Recording Trades from made on Mobile phones Could you check with the telephonic IT group there and see if they can do something similar so that even the traders trading off of their cell phones can go to a recorded line? Trade capture via cell phones has been a consistent audit point. Let me know if I can assist. Thanks Cindy ---------------------- Forwarded by Cindy Horn/LON/ECT on 17/11/2000 13:21 --------------------------- Andy Cowx 17/11/2000 11:35 To: Cindy Horn/LON/ECT@ECT cc: Scott Earnest/HOU/ECT@ECT, Nigel Denty/LON/ECT@ECT Subject: Re: Recording Trades from made on Mobile phones Cindy, It's not feasible at all in the other offices as they don't utilise the same type of recording systems (London has the ability to record every single conversation in or out of the building). I am drafting a note to go out in the next Euroflash to launch the service Thanks Andy Cindy Horn 17/11/2000 11:35 Sent by: Cindy Horn To: Andy Cowx/LON/ECT@ECT cc: Nigel Denty/LON/ECT@ECT, Martin Paddington/LON/ECT@ECT, Kenneth Drury/LON/ECT@ECT, Scott Earnest/HOU/ECT@ECT Subject: Re: Recording Trades from made on Mobile phones Have you found anything out on this for the Houston and Singapore offices yet? How would the Sydney office handle this? Thanks for doing this for London. Did the email go out telling traders how to do this? Thanks Cindy ---------------------- Forwarded by Cindy Horn/LON/ECT on 17/11/2000 11:32 --------------------------- Cindy Horn 08/11/2000 17:51 To: Andy Cowx/LON/ECT@ECT cc: Nigel Denty/LON/ECT@ECT, Martin Paddington/LON/ECT@ECT, Kenneth Drury/LON/ECT@ECT Subject: Re: Recording Trades from made on Mobile phones This is great news!!! Can you handle sending this announcement as I assume this was an audit issue for the other trading groups as well!! Also, how can we get this same process in place for the Houston and Singapore offices?? They have the same issues on their audits. Thanks you guys did a great job!!!! Cindy Andy Cowx 08/11/2000 12:26 To: Cindy Horn/LON/ECT@ECT cc: Nigel Denty/LON/ECT@ECT, Martin Paddington/LON/ECT@ECT, Kenneth Drury/LON/ECT@ECT Subject: Recording Trades from made on Mobile phones Cindy, We have some good news for you. We have set up a number which can only be called from Enron Mobile phones (37373), when you dial this number you will hear dialtone. The dialtone is coming from the phone system at Enron House, you are then able to dial exactly as if you were at your desk, ie dial '9' and the number you wish to reach. All calls coming through this route will be recorded and can be retrieved by the telecoms team for playback / reference. We have also ensured that external people cannot dial this number from outside the building by using 020 7783 7373. Let me know if you want to issue a note as a General Announcement or whether you wish to handle the distribution of the number. Regards, Andy x37285 Cindy Horn 31/10/2000 17:37 To: Andy Cowx/LON/ECT@ECT cc: Nigel Denty/LON/ECT@ECT Subject: Re: Who should I talk to on this one? Instead of providing a phone number could there be a short code or something that they do that in the background dials this number so no one gets access to this number? I know that this is an issue in all of the offices with traders making deals on cell phones on unrecorded lines. I do not want to do something that puts Enron at risk though. Thanks Cindy Andy Cowx 31/10/2000 17:02 To: Cindy Horn/LON/ECT@ECT cc: Nigel Denty/LON/ECT@ECT Subject: Re: Who should I talk to on this one? Cindy, We can provide a telephone number in the office which the traders can call from their mobile phone, they would then be offered dialtone from the telephone system and can then dial on to an external party. The call would then be routed out from the office and would be subject the the normal recording criteria. However I wouldn't recommend this approach as we are opening up an external gateway for people to use our telephone system, this would be unmetered and not secure. The potential for toll-fraud is something that we need to take into account. Regards, Andy Cowx ---------------------- Forwarded by Andy Cowx/LON/ECT on 31/10/2000 17:02 --------------------------- Nigel Denty 31/10/2000 16:41 To: Cindy Horn/LON/ECT@ECT cc: Andy Cowx/LON/ECT@ECT Subject: Re: Who should I talk to on this one? I'll ask Andy Cowx (Telecoms Manager) to investigate - my initial thoughts are that technically this may not be possible. regards, Nigel Cindy Horn 31/10/2000 16:01 To: Nigel Denty/LON/ECT@ECT cc: Subject: Who should I talk to on this one? If the traders do a deal from their cell phone, is there a way they can have that call routed back through the phones in the building so it gets done on a recorded line? I know if you call someone and then dial some numbers it takes you to their cell phone. Can it work backwards so they hit some numbers and it routes the call through the office? This would help with some of our AA issues. Thanks Cindy
Thanks very much. -----Original Message----- From: Ken Smith [mailto:ken@kdscommunications.com] Sent: Friday, September 21, 2001 4:19 PM To: Scott Govenar; Susan J Mara; Denne, Karen; Dasovich, Jeff Subject: FYI -- Dow Jones report on out-of-market purchases; meeting on Monday FERC To Examine Alleged Market Manipulation By Calif ISO Dow Jones <http://quicken.excite.com/images/DJBN.gif> Updated: Friday, September 21, 2001 04:53 PM ET <http://quicken.excite.com/images/email_friend.gif> Email this article to a friend! <http://quicken.excite.com/investments/news/story/mailit/?story=/news/stories/dj/20010921/BT20010921006618.htm&symbol=PCG> <http://quicken.excite.com/images/printer_friendly_format.gif> Printer-friendly version <http://quicken.excite.com/investments/news_center/article/printer.dcg?story=/news/stories/dj/20010921/BT20010921006618.htm> By Jason Leopold Of DOW JONES NEWSWIRES LOS ANGELES (Dow Jones)--Federal energy regulators may investigate whether the operator of California's wholesale electricity market has been manipulating its power-purchasing practices to reduce the costs of power the state purchased under long-term contracts, according to documents obtained Friday by Dow Jones Newswires Friday. At issue is whether the California Independent System Operator has violated its own market rules by purchasing expensive power secured by the state under contracts rather than cheaper power available in the spot market. The state's need to sell off surplus power secured under those contracts has proven embarrassing for Gov. Gray Davis, who signed $43 billion in deals to head off a summer of spiking prices and blackouts that never materialized. The Federal Energy Regulatory Commission will hold a meeting in California Monday to address generators' complaints. The energy companies say that the California ISO's purchasing decisions are difficult to comprehend and out of line with the market, according to a letter sent by Andrea Wolfman, lead FERC counsel for market oversight and enforcement. The letter was sent to the ISO, the California Department of Water Resources - which has been buying power in lieu of the state's struggling utilities since mid-January - and several generators, all of which were to attend the meeting. "Recently we have become concerned that the scheduling and dispatch procedures of the California ISO, as they have had to change in the last nine months, are not well understood or are not well suited to the current market structure," Wolfman said in her letter. "The purpose of the meeting is to develop agreement between the ISO and those that participate in the scheduling and dispatch (generators, utilities, CDWR) on appropriate practices and procedures." ISO Procedures Need Explaining -FERC The ISO's main responsibility is keeping power supply and demand in balance on the state's electrical grid. As part of that job, the ISO determines which power plants to call into service and which suppliers to buy power from. If the ISO can't explain how it makes its decisions, FERC may conduct an audit of the organization and investigate the possibility it has manipulated the market, Wolfman's office said. "As discussed, FERC may schedule a technical conference and operational audit of CAISO," a second letter from FERC's market oversight and enforcement division states. "This unprecedented examination of CAISO operations could lead to the belief that complaints by generators of market manipulation and other practices by the ISO should be investigated." The ISO's operating rules generally call for it to purchase the cheapest power first. "The information that (generators) have provided all leads to a theory that the CAISO is manipulating the market in order to purchase surplus DWR power at high prices and protect Gov. Davis from political embarrassment," the second letter says. The ISO has said only that the market isn't operating as intended, and declined to answer other questions about the allegations or discuss Monday's meeting. Generators Confused Generators, including Mirant Corp. ( MIR <http://quicken.excite.com/investments/quotes/?symbol=MIR>, news <http://quicken.excite.com/investments/news/?symbol=MIR>, msgs <http://quicken.excite.com/investments/discuss/?symbol=MIR>), Reliant Energy Inc. ( REI <http://quicken.excite.com/investments/quotes/?symbol=REI>, news <http://quicken.excite.com/investments/news/?symbol=REI>, msgs <http://quicken.excite.com/investments/discuss/?symbol=REI>), Williams Cos. ( WMB <http://quicken.excite.com/investments/quotes/?symbol=WMB>, news <http://quicken.excite.com/investments/news/?symbol=WMB>, msgs <http://quicken.excite.com/investments/discuss/?symbol=WMB>), Duke Energy ( DUK <http://quicken.excite.com/investments/quotes/?symbol=DUK>, news <http://quicken.excite.com/investments/news/?symbol=DUK>, msgs <http://quicken.excite.com/investments/discuss/?symbol=DUK>) and Dynegy Inc. ( DYN <http://quicken.excite.com/investments/quotes/?symbol=DYN>, news <http://quicken.excite.com/investments/news/?symbol=DYN>, msgs <http://quicken.excite.com/investments/discuss/?symbol=DYN>), have bought apparently inexpensive power in the ISO's spot market only to find weeks later that the price was much higher. That's because, according to the allegations, the ISO is letting DWR supply expensive power into the market as "out-of-market" purchases that aren't averaged into the real-time prices that ISO market participants see. DWR continues to buy out-of-market power regularly at the ISO's request, DWR operations chief Pete Garris has said, but those purchases are being made in the spot market and are never being satisfied by power from DWR's long-term contracts. The out-of-market purchases appear to be expensive, however. According to the ISO's August market report, the average out-of-market price for peak hours was $55.90 a megawatt-hour, compared with $26.49/MWh on the ISO computerized market. Brokered prices of western electricity have been lower than the out-of-market prices for months. None of the companies mentioned was willing to comment on the record. The meeting is scheduled to be held at the ISO's headquarters in Folsom, Calif., and representatives from power producers, utilities and the state are expected to attend. FERC will serve as facilitator, Wolfman said. The meeting isn't open to the public. The meeting will begin with a presentation by the ISO on its practices and operational procedures, followed by adjustments that may be needed to improve the market. "The objective is to develop a written set of procedures that is agreed to by all the market participants and that is consistent with good utility practices," Wolfman said in the letter. -By Jason Leopold, Dow Jones Newswires; 323-658-3874; jason.leopold@dowjones.com <mailto:jason.leopold@dowjones.com>
Please see the PG&E and FERC stories below, provided to me by Bob Weisenmiller. [ Business \| US Market \| By Industry \| IPO \| AP \| S&P \| International \| PRNews \| BizWire \| CCN \| CNW ] ------------------------------------------------------------------------ Click Here! Related QuotesPCG 29 3/8 -15/16 delayed 20 mins - disclaimerGet QuotesThursday September 14, 2:04 pm Eastern Time PG&E faces borrowing, write-offs for power costs By Jim Brumm NEW YORK, Sept 14 (Reuters) - This summer's surge in West Coast power prices is causing California's largest utility to seek permission for increased borrowings and consider significant write-offs, its parent company PG&E Corp. told the Securities and Exchange Commission Thursday. PG&E Corp.'s (NYSE:PCG - news) 8K filing also included the company's first disclosure of Monday's talk with New York analysts. The company's stock reacted with one of the larger losses in a soft electric utility group, slipping as low as $29-1/8 Thursday morning before steadying to trade at $29-7/16, off 7/8. The regulated utility subsidiary -- Pacific Gas & Electric Co. -- paid $700 million in unexpected power costs in June and incurred similar charges in July and August, according to spokesman Greg Pruett. PG&E's 8K filing noted the utility has authority from the California Public Utility Commission to issue of to $1.7 billion of short-term financing. Last Friday, the filing continued, it applied to the commission for the authority to issue an additional $1.4 billion of short-term financing. It also said the utility is considering the sale of additional long-term debt to finance wholesale power purchase costs and its other capital requirements. As noted by several security analysts, PG&E chief executive Robert Glynn told the New York meeting the utility wants to boost power rates as soon as possible to recover the surging costs the company has been forced to pay to buy electricity in California's chaotic wholesale power market. Other analysts also point out the utility is facing the possibility of significant write-offs for power costs it will be unable to collect. In the 8K filing, PG&E said ``if the utility determines that its uncollected wholesale power purchase costs are not probable of recovery, then the utility would be required to write off the unrecoverable portion.'' ABN AMRO utility analysts that attended Monday's meeting said PG&E estimates the summer price surge has created an additional $1.2 billion of stranded cost on top of the existing yet to be recovered stranded cost on its balance sheet of $4.4 billion. The $4.4 billion total includes unrecovered transition costs of $3.0 billion, which the 8K said could also reduce future earnings. ``A worst case scenario,'' according to ABN AMRO, would be ``a $3.2 billion net, or $8.50 per share, write-off of unrecoverable stranded cost'' if the present high power prices continue to the end California's transition to a deregulated power market. Business \| US Market \| By Industry \| IPO \| AP \| S&P \| International \| PRNews \| BizWire \| CCN \| CNW ] ------------------------------------------------------------------------ Click Here! Related QuotesSRE 20 +0 delayed 20 mins - disclaimerGet QuotesThursday September 14, 5:04 pm Eastern Time FERC chairman says deregulation should proceed WASHINGTON, Sept 14 (Reuters) - U.S. Federal Energy Regulatory Commission Chairman James Hoecker said Thursday that California's troubled power markets should force tough changes to make deregulation work better, not end the movement. Speaking at the commission's regular meeting, Hoecker and the three other FERC commissioners reiterated their support for deregulation, but said the experience in California, where prices spiked considerably for residents of San Diego and on wholesale markets, must result in new policies. ``I personally reject the notion that this is the beginning of the end for deregulation,'' Hoecker said. FERC conducted a hearing in San Diego on Tuesday, allowing discussion from utilities, regulators and the public on what has become a disastrous summer for California's power markets. Under the terms of the deregulation of California's electric utility industry, customers of Sempra Energy (NYSE:SRE - news) subsidiary San Diego Gas and Electric became the first in the nation to pay market-based rates without a safety net. Hoecker said now ``was the time to make tough decisions'' on retooling deregulation laws to make them work better. FERC Commissioner Curt Hebert said the problem is not just in California, but also in New York and New England, where structural problems with deregulation efforts have triggered market power, price, supply and reliability concerns. Many California and national lawmakers want FERC to declare that rates set by suppliers this summer were not ``just and reasonable'' as required under law. Such a declaration could be followed by action to impose market restrictions such as price caps across the western U.S.. Experts say such a move could lead to the demise of the California Power Exchange, which was set up as part of the deregulationof the state's power industry. Twenty-four states and the District of Columbia have enacted laws to open retail electricity markets to competition. A report on the California price spikes this summer by FERC investigative staff is due to be received by the commission by Nov. 1. Email this story - View most popular stories emailed Karen Edson kedson@ns.net 916/552-7070
Rick: I hope that all is well. It was very nice to talk to you this morning. The purpose of this note is to keep you abreast of progress in determining the GA needs for India, and seek your opinion for the best reply for Wade. I look forward for your comments and advise. Best regards AI Here are the salient features: Meeting with Wade: The meeting with Wade indicated that he is open to suggestions to what needs to be done on the regulatory front. He indicated that if GA sees, and agrees, he would be happy to finance-on a semi full time basis--such support from Houston. His major concern is to satisfy himself that: a) all what needs to be done on the GA front is being done, b) manage and maintain an effective team (i.e., those currently employed in Bombay and Delhi Offices) just in case of need. He mentioned that he is not going to be "penny wise and pound foolish" given the $850 million at stake. I informed him that Houston shall advise on the best approach as soon as taking stock is complete, and generally speaking, shall also deliver on what is needed. GA Needs in India: The regulatory/government affairs needs in India are in the following five areas: a) Third party Sales (basically for phase II output), b) Dealing with the Regulatory Commission, c) Dealing with MSEB (the customer), e) Government of India, and f) EBS. The volume and intensity of work, however, shall differ with the following scenarios, namely: a) Enron/DPC intends to exit through arbitration, b) Enron/DPC intends to renegotiate the contract, and c) Undetermined as of yet. Here is an assessment of this work load under the two former scenarios: Arbitration Renegotiation Third party Sales (basically for phase II output), low/medium high Dealing with the Regulatory Commission, medium high Dealing with MSEB (the customer), medium high Government of India, and high high EBS. medium medium It is surprising to mention that most colleagues here say that Enron/DPC seems to be taking the arbitration route, although that renegotiation (in the sense of renegotiate, stabilize, then take hit on equity and exit), is the best way. It is more surprising, however, that no one can speak with any degree of certainty on where the ship is going. In this context, a risk-averse person shall take the "undetermined scenario" as equal to "renegotiation", while a risk-taker shall take the "undetermined"" as equal to arbitration. Personal: It is clear that the current personal here shall need support from Houston in the "renegotiation" scenario on a semi full time basis. Short of that, a visit every 6 weeks may be adequate as the current team here will be working under legal/commercial. Suggested Approach: Continue understanding the details of the outstanding regulatory tasks for the coming 3 to 4 days. If the above opinion is still the same, then the suggested communication to Wade (preferably from you) is "if there is renegotiation, then GA shall send the required person/persons on a semi-full time basis, if arbitration, then GA shall be available on as needed basis". Caveat: It is not clear what does RMcDonald wants to see on the ground to tilt the suggested approach above one way or another. ----- Forwarded by Amr Ibrahim/ENRON_DEVELOPMENT on 06/15/2001 05:57 AM ----- Amr Ibrahim 06/12/2001 06:54 AM To: Richard Shapiro/NA/Enron@Enron cc: James D Steffes/NA/Enron@Enron Subject: India - Progress Report One Rick: This is a brief on the situation on the ground here based on observations and short talks with the various colleagues in India Team. I do have a meeting with Wade tomorrow (June 13th) to understand his requests of support from GA. While I do not expect much, I shall communicate to Wade the standing policy of GA, namely, "GA shall provide the required support". Notwithstanding this mandate, I shall communicate it in a manner to give Houston the final say. In the context of regulatory support, there two important areas for GA contribution; they are: a) Dealing with the regulatory commission (MERC), and b) third party sales. It is likely that India shall need a week per month, most conducted from Houston but may include a visit to Bombay. The feeling here is that the company wants to terminate the PPA, and exit India (but see point 5 below). It is the understanding that there are teams in London that are going through the reevaluation of assets in anticipation to transfer them to MSEB as per the contract (MSEB has to agree on the valuation which shall be a lengthy and an adversarial process). It is noteworthy that the transfer of these assets will not take place on market basis, but rather on accounting basis. As most chips are on terminating the contracts and exiting as the likely route (around 60%), renegotiation is not discussed much (hastily added however, renegotiation is the tacit direction of the lenders as communicated in Singapore the other day in the lenders' meeting; they also want ENRON to complete phase II which we are refusing). If renegotiation is to take place, its crux will be the reduction in energy and capacity costs to both phases and finding off-taker to Phase II (1400 MW kit and caboodle). NTPC, or PTC are the likely parties to assume such responsibility. Of course, we are trying to avoid any commercial risks associated with marketing this power. Whether we accept it or not, every issue related to dispatch and transmission must be minutely determined and solved. The decision making process here is entirely dependent on Houston highest level; that is directly from RMcDonald, and JS. The fact that both of them did not visit India and see for themselves how things are has been mentioned as a minus point. Perhaps this point should be communicated to them. As mentioned above, GA contribution could be in two areas, namely dealing the regulatory commission (MERC), and third party sales. Starting with the later, third party sales, it is perhaps the most important point in the renegotiation as it shall increase the commercial value of our commitment (incidentally, Enron's commitment in the project is between $0.65 and $0.825 billion--with B--depending on what to include and exclude). Ironing the issues for third party sales is clearly more valuable in the case of renegotiation, but can also add value when assets are reevaluated and there is a disagreement and some sort of market parameters are added. As for dealing with MERC, it an ongoing basis particularly that MERC is seeking to expand its jurisdiction in favor MSEB at every through of the dice. I shall keep you posted with progress, meanwhile, please let me know if you have any questions and/or advise. Best regards AI
Bruce just fyi, I am already on top of this. Ken Blades and I had a conversation with Justin Williams yesterday about this ongoing saga (which has been ongoing a long time...). Essentially here's where we are and why it is a good thing that United India has sued us in the London Court. In the early part of the dispute, we gave consideration to litigation vs. arbitration, but we could only sue UI in India, which was a bad option. Several months ago, after lengthy settlement discussions with United India (UI) and reinsurers about DPC's DSU claim resulting from the first rotor problems, UI served DPC with a notice of arbitration under the policy. The notice was curious because UI clearly disputed both liability and quantum; however, the policy's arbitration clause states that arbitration can only include issues of quantum. Through a series of correspondence, we believe UI has agreed to arbitrate liability & quantum in the same proceeding and to include reinsurers in the arbitration. (The cut through clause in the policy enables DPC to recover directly from the reinsurers). It appears, however, (at least we speculate) that UI has suddenly become uncomfortable with the anomaly, that while they have served DPC a notice of arbitration, the clause limits arbitration to quantum, not liability. Hence UI's declaratory judgment action in the London Commercial Court to determine liability. Now, this gives us an option we didn't have earlier: litigation in the London court since they have submitted to jurisdiction or arbitration. There are pros & cons to both which we are discussing with Justin and Peter. An interesting piece of the puzzle is that UI is now trying to realign the parties since DPC is the insured seeking recovery. The reason UI wants to do this is because (i) it would put the burden of proof on DPC as claimant & (ii) UI as claimant will have a very difficult time meeting its burden of proof on a dec action because they do not have all the technical information DPC has. Pros of litigation: The London court is less likely to permit this realignment than arbitrators who are typically more lenient in procedural matters of this type. We also believe the London court will be cheaper (no cost of 3 arbitrators) and quicker, since there are statutory time lines. UI has no incentive to resolve this expeditiously and has, at every opportunity, slowed the arbitration process by rejecting everything DPC proposes from the number of arbitrators to the names submitted etc. Also, in the London court, there is a strong possibility DPC can get an advance security for attorneys' fees as the defendant, which is not possible in arbitration. Downside of litigation: It is less likely that DPC can litigate directly against the reinsurers for procedural reasons. Furthermore, DPC could potentially end up in two proceedings: litigation to determine liability & arbitration to determine quantum which could take longer and be expensive. Ken Blades believes the loss adjuster stipulated to quantum in a prior meeting which would enable us to avoid that scenario. Until we see the document, however, we cannot determine whether the stipulation is enforceable because of issues of authority etc. The bottom line is, now that UI has sued us in London court, we have a choice we didn't have before. We plan to obtain Ken's document re the stipulation, send a letter to UI and then see their reaction before we decide. Now that we've been served it just shortens our time limit to do this. I'm inclined to go the litigation route, but I want to see that stipulation document first and discuss with Linklaters its value either as an enforceable agreement or its strength as evidence of quantum. Call me if you have questions. In the meantime I'll keep you informed. Michelle ---------------------- Forwarded by Michelle Blaine/ENRON_DEVELOPMENT on 12/21/99 03:38 PM --------------------------- Robert C Williams 12/21/2000 09:09 AM To: Michelle Blaine/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Bruce Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Insurance Claim under CAR/DSU Policy Michelle, this looks like yours. ---------------------- Forwarded by Robert C Williams/ENRON_DEVELOPMENT on 12/21/2000 09:16 AM --------------------------- Sandeep Katwala 12/21/2000 01:51 AM To: Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rob Walls/NA/Enron@Enron, Robert C Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bruce Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Insurance Claim under CAR/DSU Policy Gentlemen, Santa is really working overtime as far as we are concerned. Peter Cornell will be preparing a response and I am working with Suhas to get all this in train. This is not the easiest time to collate all the information we require to put a response together given the holiday but the clock is running. Will get back to you as soon as I can once we have got our thoughts in order as to the way forward. Sandeep ---------------------- Forwarded by Sandeep Katwala/ENRON_DEVELOPMENT on 12/21/2000 01:13 PM --------------------------- Suhas Tuljapurkar 12/20/2000 06:17 PM To: Sandeep Katwala/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Paul Kraske/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Mukesh Tyagi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mohan Gurunath/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Krishna Murthy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Insurance Claim under CAR/DSU Policy We have been served with a Claim Form issued by the Commercial Court in London in respect of above claim. The service (alongwith the order of the Court & an acknowledgement form ) has been effected through Mulla & Mulla acting under the instructions of M/s Beachcroft Wansbroughs on behalf of UII. We shall be collecting and collating the necessary back up documents so as to submit the Claim Form within stipulated period of 23 days. I am connecting the hard copies .
In his comments, Hoecker asks Congress to give FERC retroactive refund authority. By the way this article is wrong about the refund effective date. The current refund effective date is 60 days from the date FERC's order was published in the Federal Register. It was pushed on August 30, so if in a future order the Commission were to require refunds, they would be calculated beginning October 29th. ---------------------- Forwarded by Mary Hain/HOU/ECT on 10/05/2000 11:43 AM --------------------------- Enron Capital & Trade Resources Corp. From: "Ronald Carroll" <rcarroll@bracepatt.com> 10/05/2000 07:51 AM To: <mary.hain@enron.com>, <smara@enron.com>, <seabron.adamson@frontier-economics.com>, <cfi1@tca-us.com> cc: Subject: Electric Power Plus Article re FERC Chairman Hoecker's Congressional Testimony Law changes needed for retroactive refunds FERC'S Hoecker Asks Congress For Broader Authority _______________________________________________ Date: October 2, 2000 - FERC Chairman James Hoecker (D) told a congressional panel that the commission needs retroactive ratemaking authority to better guard against market power in a competitive environment. Hoecker also urged the congressmen to give the commission broader authority to sufficiently oversee the utility industry's transition to competition. Hoecker's plea to Congress may not be a welcomed one for California, where some state officials want the commission to order refunds to customers after prices in the wholesale market skyrocketed to unprecedented levels this summer. Although Hoecker has informed California that the commission will consider refunds as a part of its larger investigation into the state's bulk power markets, it is clear that currently, the commission does not have that authority to do so retroactively. "The [Federal Power Act] would have to be changed," a FERC staffer says. For its own study -- which began in August -- Hoecker claimed that the commission, if proven necessary, would consider ordering refunds if market participants were indeed price gouging. However, the Federal Power Act (FPA) -- the law that gives the commission much of its authority -- does not consider retroactive refund authority and clarification of that law is probably needed to see if the commission can do that. "If we need to fix market rules or market structures within our jurisdiction, we will do so," Hoecker told the House Committee on Government Reform Sept. 21. "If market power is being exercised, we will respond accordingly, by revoking or modifying market-based rates or reassuring the basis upon which we grant them. We may order refunds to the extent allowed by the FPA, if refunds are justified by record evidence. However, the FPA defines the commission's authority, and leaves responsibility for many helpful measures with California (and other states)." Currently, the FPA allows the commission to issue refunds for transactions made 60 days after the commission initiates an investigation, which in this case would be Oct. 13. However, the law makes no mention of retroactive ratemaking, and FERC officials admit that to do so, the law needs to be changed. "Based upon what I know, the authority of the commission to issue refunds for any period before 60 days following our [investigation] order is highly problematic," Commissioner William Massey (D) told Electric Power Alert. "There are very good arguments that if FERC would try to do that, it would be unlawful and we would need legislation to do that." The Government Reform Committee, chaired by Rep. Dan Burton (R-IN), held a mid-afternoon Sept. 21 hearing to gauge what is being predicted to be a severe energy crisis this winter. The committee heard testimony from Hoecker, Energy Secretary Bill Richardson, and Environmental Protection Agency (EPA) Administrator Carol Browner. Much of the hearing focused on natural gas and oil markets, but both Richardson and Hoecker used the meeting as a forum to blast Congress for failing to pass comprehensive restructuring legislation this year. Richardson expressed his "disappointment" that nothing passed, while Hoecker claimed that FERC needs broader authority if it is to guard against market power. "Congress should place all electric transmission in the continental United States under the same rules for non-discriminatory open access and comparable service," Hoecker said. "The commission's open access rules are not binding on the part of the nation's transmission system . . . owned or controlled by entities other than public utilities. Open access over the facilities of public power and other non-public utilities would promote greater competition in wholesale markets, by expanding trading opportunities for wholesale buyers and sellers." Hoecker pointed to FERC's investigation into bulk power markets and California's energy crisis and claimed that unless the commission receives clear legislative direction, FERC will extremely limited in what it could do to solve the market problems. "Congress, too, has a role to play in ensuring that consumers are able to obtain the energy they need at reasonable prices," Hoecker said. "Most critically, events this summer demonstrate the urgency of enacting electricity legislation to help resolve remaining impediments to competition. Federal legislation can establish the ground rules that will lead to adequate investment in generation and transmission facilities, and higher levels of reliability which is crucial to the digital economy." The chairman also urged Congress to give FERC the authority to mandate regional transmission organization participation and mandate reliability standards. Currently, the House is considering a bill that would make the commission a federal backstop for reliability, but most congressional sources do not expect the bill to pass (see related story). _source: Electric Power Alert _date: October 2, 2000 _issue: Vol. 10, No. 20 _title: FERC's Hoecker Asks Congress For Broader Authority , Inside Washington Publishers
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This is the David's answer: The only one that I can think of that may be of use is the "CES Volume Comparison" report ... that is the one that ya'll had for January that showed all of the purchases and sales, by pipeline. It is available for any month. The reports that I regularly used were for helping to clean up current month activity, which would not be of any use to you. David ---------------------- Forwarded by Ami Chokshi/Corp/Enron on 01/11/2000 11:05 AM --------------------------- Enron North America Corp. From: Ami Chokshi 01/11/2000 09:02 AM To: dscott1@columbiaenergygroup.com cc: Subject: Re: Request for Application Report List Hey David, Could you help me determine the GMS reports that I may need. Thanks for your help. Ami ---------------------- Forwarded by Ami Chokshi/Corp/Enron on 01/11/2000 09:01 AM --------------------------- Daren J Farmer@ECT 01/06/2000 03:58 PM To: Ami Chokshi/Corp/Enron@ENRON cc: Subject: Re: Request for Application Report List ---------------------- Forwarded by Daren J Farmer/HOU/ECT on 01/06/2000 03:57 PM --------------------------- Robert Superty 01/06/2000 08:32 AM To: Katherine L Kelly/HOU/ECT@ECT, Edward Terry/HOU/ECT@ECT, Randall L Gay/HOU/ECT@ECT, George Smith/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON cc: Heather Choate/HOU/ECT@ECT Subject: Re: Request for Application Report List This is a follow up to the earlier email I forwarded regarding CES historical information. Note the deadline of 1/15, I believe that should be Friday 1/14 so I need your responses by Thursday 1/13. Please fill out the spreadsheet for each area and forward back to me. I will consolidate our responses from a Logistics perspective. Lets have them add everything they need and if challenged we can re-review later. Thanks - Bob ---------------------- Forwarded by Robert Superty/HOU/ECT on 01/06/2000 08:24 AM --------------------------- From: Bryce Baxter 01/05/2000 12:00 PM To: Sheri Thomas/HOU/ECT@ECT, Robert Superty/HOU/ECT@ECT, Mark Friedman/HOU/ECT@ECT, Mary Solmonson/HOU/ECT@ECT, Bob Klein/HOU/ECT@ECT, Georgeanne Hodges/HOU/ECT@ECT, Lisa Csikos/HOU/ECT@ECT, Rita Wynne/HOU/ECT@ECT cc: Inja Chun/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT, Tommy J Yanowski/HOU/ECT@ECT, Susan Harrison/HOU/ECT@ECT, Lawrence R Daze/HOU/ECT@ECT, Pamela Chambers/Corp/Enron@Enron, jpeeple@columbienergy.com Subject: Re: Request for Application Report List Last month Richard Burchfield sent us the following list of reports that are available from CES's systems. IT is working on a way to secure an electronic copy of the required reports and making them available to us online via the electronic document management system. While ENA is not liable for pre-2000 business, we may need to assist with research as issues arise. In order to get the ball rolling, we need to get a list together of the reports we need. Please fill out the attached spreadsheet and list any reports that you need and return it to me by Friday, 1/15/2000. If you do not want any reports, please send me an Email letting me know that. I have included samples of how to fill this out, and if you have any questions please give me a call. If you aren't sure which reports you need based on the names, please get with any CES employees you have hired or with a CES transition employee to get clarification. If you need samples of any of these reports please let my assistant, Pam Chambers, know and she will coordinate getting a sample report printed for you. In addition, I will need a list of the users and their logonid's who will need to have access to this data. Please send that to me by the 15th as well. Thanks, Bryce Richard Burchfield 12/01/99 04:58 PM To: Sheri Thomas/HOU/ECT@ECT, Robert Superty/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT, Mark Friedman/HOU/ECT@ECT, Mary Solmonson/HOU/ECT@ECT, Tommy J Yanowski/HOU/ECT@ECT, Bob Klein/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT, Georgeanne Hodges/HOU/ECT@ECT cc: Subject: Re: Request for Application Report List All, Below is attached the report list for CES. Richard ---------------------- Forwarded by Richard Burchfield/HOU/ECT on 12/01/99 03:48 PM --------------------------- cdeaton@columbiaenergygroup.com on 12/01/99 01:25:37 PM To: Richard Burchfield/HOU/ECT@ECT cc: " - Peeples, Jeff" <jpeeple@columbiaenergygroup.com>, " - Licarione, Linda" <llicari@columbiaenergygroup.com> Subject: Re: Request for Application Report List Please see the attached for the Altra GMS report listing. Please forward any additional questions relating to Altra GMS to Linda Licarione (713-693-2845) or Jeff Peeples (713-693-2597). Thanks. Linda Licarione 12/01/99 01:04 PM To: Clay Deaton/CES/ColumbiaGas@ColumbiaGas cc: Subject: Request for Application Report List Attached is a list of 210 reports from Altra GMS. Please note that we may not be using all of these reports. If you need me to scale this down to those currently being used, I will need to do a bit of analysis. Many of the base reports, those denoted in the spreadsheet with filename-location (1st column) = master.mdb are not currently being used at CES. Let me know if you have any questions. ---------------------- Forwarded by Linda Licarione/CES/ColumbiaGas on 12/01/99 12:58 PM --------------------------- Clay Deaton 11/30/99 01:27 PM To: Linda Licarione/CES/ColumbiaGas@ColumbiaGas cc: Subject: Request for Application Report List Can you provide me with a complete list of GMS reports? ---------------------- Forwarded by Clay Deaton/CES/ColumbiaGas on 11/30/99 01:26 PM --------------------------- rburchf@ect.enron.com on 11/30/99 10:36:11 AM Please respond to rburchf@ect.enron.com To: Clay Deaton/CES/ColumbiaGas@COLUMBIAGAS cc: csulliv@ect.enron.com, bprice@ect.enron.com Subject: Request for Application Report List Clay, I have had several requests from the ENA business groups. now that the agreement has been finalized, for report lists from your key applications, those being, Altra GMS and Risk Works( there may be others as people become more aware). There will be a need for information for ENA to manage contracts as we go through he transition period. We feel this would be an easier process to work through if ENA knows what kind of information they can request as we go through the transition. Thanks, Richard - GMS_ReportListing by Header.xls
Jim, please see me about this issue. As you can see, Leslie and I have been working extensively with Stephanie Miller for the last few weeks as she is trying to find a way to get rid of our 200,000 MMBtu/day of Block 2 capacity on El Paso. In fact, I provided Stephanie an analysis of the regulatory history as far back as last March, even before we signed up for the capacity. You will probably be getting some questions about it from Barry or maybe even Lavarato before too long since getting rid of this asset is very high on their priority list. I wanted you to be up to speed on our input so far. -----Original Message----- From: Lawner, Leslie Sent: Wednesday, September 05, 2001 12:40 PM To: Cantrell, Rebecca W.; Miller, Stephanie Subject: RE: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 The CPUC was heavily involved in the settlement and their interest is making sure that northern CA has access to the SJ supplies. Their concern is not the same as PG&E's. And to the extent anything is agreed to, reopening the settlement is an enormous can of worms, and I don't think we want to go there. We would have to be able to structure a side deal to where PG&E and SoCal are in agreement that the recall rights they got in the settlement can be waived. -----Original Message----- From: Cantrell, Rebecca W. Sent: Wednesday, September 05, 2001 11:23 AM To: Miller, Stephanie Cc: Lawner, Leslie Subject: RE: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 Steph - Leslie and I were just talking about this, and one thing we need to keep in mind is that any attempt to modify the PG&E recall rights would almost certainly be opposed by the CPUC, especially if it was to benefit Enron. -----Original Message----- From: Lawner, Leslie Sent: Wednesday, September 05, 2001 12:07 PM To: Miller, Stephanie Cc: Cantrell, Rebecca W. Subject: FW: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 I thought you understood from my email and phone call that I was going to track down El Paso's interpretation of the 24 hours recall rights. Regulatory treatment of the 58 million by PG&E is a CPUC issue. I just talked to Becky and I don't have a good response to the question of whether our capacity could replace expansion capacity in light of the dueling recall rights, but I will think about it and talk to Becky some more. -----Original Message----- From: Lawner, Leslie Sent: Tuesday, September 04, 2001 11:04 AM To: Miller, Stephanie Cc: Cantrell, Rebecca W. Subject: RE: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 As to the 24-hour recall, I can only tell you what the FERC order says, I have no special knowledge of how El Paso and the parties intended the 24 recall to work. The order is fairly terse, and just says "and if it so recalled (by PG&E), that Enron may further recall the capacity for its own use in the PG&E service territory upon 24 hours notice." The language says to me that you can recall it 24 hours before you want to use it. However, I can call El Paso and find out how they interpret it. As to the "traditional rate making" valuation of the $58 million, I have to confess I don't understand what you mean. PG&E paid the 58 million as part of a negotiated settlement. Typically that is part of a black box settlement, meaning that revenue dollars are not tracked to particular costs. We can pull the settlement and see if it stipulates some sort of treatment, but I would doubt it. If your question relates to how PG&E is tracking that expense in a regulatory sense, perhaps Jeff Dasovich can find out. -----Original Message----- From: Miller, Stephanie Sent: Tuesday, September 04, 2001 8:17 AM To: Lawner, Leslie Subject: RE: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 When is the 24 hour notice on re-recall effective - 24 hours from the day of recall (varies depending on term) or 24 hours before the recall is supposed to start? How would you value what's left of the $58 million that PG&E paid based upon traditional rate making policies? I believe there are at least 5 years left on the term of the settlement. Please call if you have any questions, Regards, Stephanie -----Original Message----- From: Lawner, Leslie Sent: Thursday, August 30, 2001 1:19 PM To: Miller, Stephanie; Cantrell, Rebecca W. Subject: RE: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 Here is a short memo. do you need more? << File: Stephaniememo.doc >> -----Original Message----- From: Miller, Stephanie Sent: Thursday, August 30, 2001 11:28 AM To: Lawner, Leslie Subject: RE: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 We you able to pull together a clear, definitive conclusion on how the RE-recall rights work? I was not able to - hence my mission for greater clarification of specifics.... -----Original Message----- From: Lawner, Leslie Sent: Thursday, August 30, 2001 12:26 PM To: Miller, Stephanie; Cantrell, Rebecca W. Subject: RE: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 I looked over all the orders and the contracts and I agree with both of your interpretation of the recall rights of Block II. PG&E did not make a very smart deal for $58 million. -----Original Message----- From: Miller, Stephanie Sent: Friday, August 24, 2001 8:27 AM To: Cantrell, Rebecca W.; Lawner, Leslie Subject: June 11 order on Rehearing: RP00-241-000 and RP00-241-004 Page 12 talks about Recall rights - good discussion but still short on re-recall rights.
---------------------- Forwarded by Chris Abel/HOU/ECT on 01/28/2000 08:43 AM --------------------------- Chris Abel <cabel@hal-pc.org> on 01/19/2000 11:46:57 AM To: Chris Abel/HOU/ECT@ECT cc: Subject: FW: [Fwd: Things I'm Glad I Didn't Say] -----Original Message----- From: Abellink@aol.com [SMTP:Abellink@aol.com] Sent: Saturday, January 22, 2000 6:19 PM To: cabel@hal-pc.org; jeffrey@lxnet.com; meliage@lcc.net; Ekb8004910@aol.com; DChar19067@aol.com; djste@ttacs1.ttu.edu; bcrews1@elp.rr.com; srdyrenf@fuse.net; medsociety@abilene.com; patevans@plano.net; RFBadbob@aol.com; chasg@ix.netcom.com; KrisG72@aol.com; rgarrett@pocketmail.com; rgray@bitstreet.com; TexasGammy@webtv.net; EDD0443@aol.com; jlaroe@k-online.com; merriman@neosoft.com; RMilu@aol.com; edie_obrien@valic.com; Dcdp1126@aol.com; ninnyfon@texas.net; MASMITH@admin.pom.devry.edu; Danawardel@aol.com; shari_wolda@baylor.edu; jzz2@juno.com Subject: Fwd: [Fwd: Things I'm Glad I Didn't Say] In a message dated 01/21/2000 5:46:48 PM Central Standard Time, suzanne@strategic-hou.com writes: << : Subject: [Fwd: Things I'm Glad I Didn't Say] 1. Question: If you could live forever, would you and why? Answer: "I would not live forever, because we should not live forever, because if we were supposed to live forever, then we would live forever, but we cannot live forever, which is why I would not live forever." ---Miss Alabama in the 1994 Miss USA contest 2. "Whenever I watch TV and see those poor starving kids all over the world, I can't help but cry. I mean I'd love to be skinny like that but not with all those flies and death and stuff." ---Mariah Carey 3. "Researchers have discovered that chocolate produces some of the same reactions in the brain as marijuana. The researchers also discovered other similarities between the two, but can't remember what they are." ---Matt Lauer on NBC's Today Show, August 22 4. "I haven't committed a crime. What I did was fail to comply with the law." ---David Dinkins, New York City Mayor, answering accusations that he failed to pay his taxes. 5. "Smoking kills. If you're killed, you've lost a very important part of your life." ---Brooke Shields, during an interview to become spokesperson for a federal antismoking campaign. 6. "I've never had major knee surgery on any other part of my body." ---Winston Bennett, Univ. of KY basketball forward 7. "Outside of the killings, Washington has one of the lowest crime rates in the country." ---Mayor Marion Barry, Washington, DC 8. "We're going to turn this team around 360 degrees." ---Jason Kidd, upon his drafting to the Dallas Mavericks 9. "I'm not going to have some reporters pawing through our papers. We are the president." ---Hillary Clinton commenting on the release of subpoenaed documents. 10. "China is a big country, inhabited by many Chinese." ---Former French President Charles De Gaulle 11. "That lowdown scoundrel deserves to be kicked to death by a jackass, and I'm just the one to do it." ---A Congressional Candidate in Texas 12. "It isn't pollution that's harming the environment. It's the impurities in our air and water that are doing it." ---Former U. S. Vice-president Dan Quayle 13. "Without censorship, things can get terribly confused in the public mind." ---General William Westmoreland And last but not least-a parting word from Dan Quayle: 14. "I love California. I practically grew up in Phoenix." >> From: "suzanne@strategic-hou.com" <suzanne@strategic-hou.com> To: "abellink@aol.com" <abellink@aol.com>, "eneadams@aol.com" <eneadams@aol.com>, "kdominy@mail.batesww.com" <kdominy@mail.batesww.com>, "lucon1015@aol.com" <lucon1015@aol.com>, "jmlester@flash.net" <jmlester@flash.net>, "pvecellio@aol.com" <pvecellio@aol.com> To: "kelmormil@aol.com" <kelmormil@aol.com>, "danawardel@aol.com" <danawardel@aol.com>, "ksl_c@hotmail.com" <ksl_c@hotmail.com> Subject: [Fwd: Things I'm Glad I Didn't Say] Date: Fri, 21 Jan 2000 17:45:55 -0600 MIME-Version: 1.0 Content-Type: text/plain; charset="us-ascii" Content-Transfer-Encoding: 7bit ---------------------- Forwarded by on 01/21/2000 05:44 PM --------------------------- Doug Sihvonen 01/21/2000 07:37 AM To: cc: Subject: [Fwd: Things I'm Glad I Didn't Say] 1. Question: If you could live forever, would you and why? Answer: "I would not live forever, because we should not live forever, because if we were supposed to live forever, then we would live forever, but we cannot live forever, which is why I would not live forever." ---Miss Alabama in the 1994 Miss USA contest 2. "Whenever I watch TV and see those poor starving kids all over the world, I can't help but cry. I mean I'd love to be skinny like that but not with all those flies and death and stuff." ---Mariah Carey 3. "Researchers have discovered that chocolate produces some of the same reactions in the brain as marijuana. The researchers also discovered other similarities between the two, but can't remember what they are." ---Matt Lauer on NBC's Today Show, August 22 4. "I haven't committed a crime. What I did was fail to comply with the law." ---David Dinkins, New York City Mayor, answering accusations that he failed to pay his taxes. 5. "Smoking kills. If you're killed, you've lost a very important part of your life." ---Brooke Shields, during an interview to become spokesperson for a federal anti-smoking campaign. 6. "I've never had major knee surgery on any other part of my body." ---Winston Bennett, Univ. of KY basketball forward 7. "Outside of the killings, Washington has one of the lowest crime rates in the country." ---Mayor Marion Barry, Washington, DC 8. "We're going to turn this team around 360 degrees." ---Jason Kidd, upon his drafting to the Dallas Mavericks 9. "I'm not going to have some reporters pawing through our papers. We are the president." ---Hillary Clinton commenting on the release of subpoenaed documents. 10. "China is a big country, inhabited by many Chinese." ---Former French President Charles De Gaulle 11. "That lowdown scoundrel deserves to be kicked to death by a jackass, and I'm just the one to do it." ---A Congressional Candidate in Texas 12. "It isn't pollution that's harming the environment. It's the impurities in our air and water that are doing it." ---Former U. S. Vice-President Dan Quayle 13. "Without censorship, things can get terribly confused in the public mind." ---General William Westmoreland And last but not least -- a parting word from Dan Quayle: 14. "I love California. I practically grew up in Phoenix."
TODAY'S HEADLINES The New York Times on the Web Wednesday, May 9, 2001 ------------------------------------------------------------ For news updated throughout the day, visit www.nytimes.com QUOTE OF THE DAY ========================= "Classically, the eyewitness is the king of the trial process. It was very hard for the courts to say scientific inquiry could call into question a person who has direct evidence to give." - PROF. PAUL G. CHEVIGNY, of New York University, on a state ruling about challenges to eyewitness testimony. Full Story: http://www.nytimes.com/2001/05/09/nyregion/09WITN.html NATIONAL ========================= Gains Found for the Poor in Rigorous Preschool http://www.nytimes.com/2001/05/09/national/09SCHO.html In Study of Nation's Worst Traffic, New York Must Yield http://www.nytimes.com/2001/05/09/national/09TRAF.html Bomb's Effects Linger Along Road to Infamy http://www.nytimes.com/2001/05/09/national/09ROUT.html Bargaining Is Under Way in Spying Case of F.B.I. Man http://www.nytimes.com/2001/05/09/national/09SPY.html /--------------------- ADVERTISEMENT ---------------------\ Unique Mother's Day Gift Idea! Get her a Rio500 MP3 Player for $49* and each month she can download any two audiobooks for only $12.95. Now she can enjoy listening to her favorite books without using those silly looking bifocals. Plus, she will be the "coolest" mom or grandmom on the block. MP3 Player - they're not just for music anymore. http://www.audible.com/nyt/feboffer3 \---------------------------------------------------------/ POLITICS ========================= Blacks and Hispanics in House Balk on Campaign Finance Bill http://www.nytimes.com/2001/05/09/politics/09DONA.html Impeachment Figure in Line for Drug Enforcement Post http://www.nytimes.com/2001/05/09/politics/09DRUG.html Bush to Nominate 11 to Judgeships http://www.nytimes.com/2001/05/09/politics/09JUDG.html House Threatens to Hold Back U.N. Dues for Loss of Seat http://www.nytimes.com/2001/05/09/world/09NATI.html INTERNATIONAL ========================= House Threatens to Hold Back U.N. Dues for Loss of Seat http://www.nytimes.com/2001/05/09/world/09NATI.html Military Analysis: U.S. Weighing Future of Arms Pacts http://www.nytimes.com/2001/05/09/world/09ARMS.html Rumsfeld Plan Skirts Call for Stationing Arms in Space http://www.nytimes.com/2001/05/09/world/09SPAC.html China Says It Won't Let U.S. Spy Plane Fly Home http://www.nytimes.com/2001/05/09/world/09PLAN.html BUSINESS ========================= Utility Says Prices of Gas Were Inflated http://www.nytimes.com/2001/05/09/business/09GAS.html Management: Telecommuting's Big Experiment http://www.nytimes.com/2001/05/09/technology/09TELE.html Northrop Grumman Joins Bidding for Shipbuilder http://www.nytimes.com/2001/05/09/business/09SHIP.html After 6 Years, First-Quarter Productivity Fell in U.S. http://www.nytimes.com/2001/05/09/business/09ECON.html TECHNOLOGY ========================= Cisco Takes $3 Billion Charge and Posts Its First Loss http://www.nytimes.com/2001/05/09/technology/09CISC.html Management: Telecommuting's Big Experiment http://www.nytimes.com/2001/05/09/technology/09TELE.html Comcast Shows Profit as Customer Base Surges http://www.nytimes.com/2001/05/09/technology/09CABL.html Education: School District Buys 23,000 Laptops http://www.nytimes.com/2001/05/08/technology/09EDUCATION.html NEW YORK REGION ========================= Despite Denial, Torricelli Helped in Donor's Deal http://www.nytimes.com/2001/05/09/politics/09INQU.html Court Opens Door to Data on Eyewitness Fallibility http://www.nytimes.com/2001/05/09/nyregion/09WITN.html Tales of New York Divorce: Breakups and the Turf Wars http://www.nytimes.com/2001/05/09/nyregion/09DIVO.html Sharpton Gives Ferrer a List of Conditions http://www.nytimes.com/2001/05/09/nyregion/09MAYO.html SPORTS ========================= Twins' Milton and Guzman Tame Yankees http://www.nytimes.com/2001/05/09/sports/09YANK.html Baseball, Not Revenge, in the Bronx http://www.nytimes.com/2001/05/09/sports/09VECS.html Mets' Starters Find It's Not Pretty at Coors Field http://www.nytimes.com/2001/05/09/sports/09METS.html Johnson Is Third Pitcher to Strike Out 20 http://www.nytimes.com/aponline/sports/AP-BBN-Reds-Diamondbacks.html ARTS ========================= Latin Cinema Is Finding Its Voice http://www.nytimes.com/2001/05/09/arts/09LATI.html A New Show at the Apollo Raises Hopes in Harlem http://www.nytimes.com/2001/05/09/arts/09APOL.html 'About Adam': Adam Romances Eve and Her Sisters http://www.nytimes.com/2001/05/09/arts/09ADAM.html 'Conquistadors': PBS Examines the Spanish Invasion of the New World http://www.nytimes.com/2001/05/09/arts/09GENZ.html OP-ED COLUMNISTS ========================= By PAUL KRUGMAN: The Unrefined Truth A look at the causes of the current gasoline shortage suggests that conservation ought to be a major element in our energy strategy. http://www.nytimes.com/2001/05/09/opinion/09KRUG.html By MAUREEN DOWD: Donna, Prima Donna The mayor of New York City and his wife are locked in a titanic twilight struggle over a house they don't even own. http://www.nytimes.com/2001/05/09/opinion/09DOWD.html HOW TO CHANGE YOUR SUBSCRIPTION ------------------------------------------------------------ You received these headlines because you requested The New York Times Direct e-mail service. To cancel delivery, change delivery options, change your e-mail address or sign up for other newsletters, see http://www.nytimes.com/email HOW TO ADVERTISE ------------------------------------------------------------ For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact Alyson Racer at alyson@nytimes.com or visit our online media kit at http://www.nytimes.com/adinfo
Tom, Reading thourgh my mail and came to your newest note. Thanks again for the communication. Like I said in earlier note, things seem pretty normal. Stores without electricty, but open. No one seems to be hoarding. Indeed, except for lack of electricity I really wouldn't know anything happened, and I walked around for a couple hours, covering some ground. It was strange, but I had great trouble getting to sleep last night and probably only did so minutes before the quake. Next couple hours was spont outdoors with the rest of my neighbors. Took a pretty good walk then, too, and again saw little damage (though admittedly it was the middle of the night). The one good thing is that for the first time in my stay here the stars were all out, as the city had gone dark. Quite an experience. More later, Mark >From: <tskilling@tribune.com> >To: "Mark Skilling" <markskilling@hotmail.com>, tomskilljr@aol.com >Subject: UPDATE before heading home for the night---12:15 am CDT TUES >Date: Tue, 17 Aug 1999 00:34:10 -0500 > > Dear Mark, > Just finished the late news (it's past midnight here)---but > wanted to check in one last time and will monitor the internet here >at > work for future communications from you as they become possible. Mom > and Dad are on following this on-line as well. I called them the > minute the bulletins started coming across on the earthquake and Mom > saw it on television shortly afterward. We had CNN video of some of > the victims on our midnight news tonight so we're just starting to >see > what has happened there. > AP is now saying at least 100 are dead and reporting that at > least 20 buildings in Istanbul have crumbled. I guess Izmit 70 miles > east of you in Instabul(you'll know where these cities are) has been > hardest hit with 80 of the 100 deaths there. And an oil refinery is > said to be on fire in the city of Bursa where six are reported dead. > If this story is like so many others at this point, we're only > starting to get the picture. > It sounds like a mess--and the aftershocks are always said to be > frightening. We're all very concerned about you after this, >Mark---but > I can't begin to tell you how relieved we were to hear from you. I > hope you're really all right. We know communications are apt to be > sporadic in coming days but we'll await word on how you're doing---I > couldn't get over the fact you were able to get through to us so > quickly. I know battery power for your laptop is at a premium and > that you'll be carefully using your PC--providing the phone lines >hold > up---they're saying there are a lot of lines down. I didn't realize > Istabul was so big---a city of 12-million (learned that on the wires) > but have no idea how sophisticated or well equipped the Turkish >rescue > teams are nor how extensive the damage has been---will food become > short, when will electricity be restored, etc.???? We're concerned > about you Mark. Please be careful and take care of yourself and > communicate as you're able. You're on our minds. > We love you Mark. Will close for now--but will keep in touch. > > Tom > > >______________________________ Reply Separator >_________________________________ >Subject: Re: earthquake---are you all right? >Author: "Mark Skilling" <markskilling@hotmail.com> at Internet_TCO >Date: 8/16/99 8:12 PM > > >Just got on line. Surprised it was possible. Electricity out, so probably >only us with battery powered lap tops clogging things up. > >Everything ok here, so far. Got a pretty good shake. Was out in the >streets for a couple of hours, with everyone else. My neighborhood up on >solid rock, so things looked mostly ok. Lots of old and bad construction >here; stones in the street. One upper floor (abandoned) apartment half a >block from here collapsed and much debris in the stereets. No apparent >injuries, however, in my neighborhood. Unfortunately, other areas not so >lucky. Saw 6.7 estimate for Izmit, the center, here (one place I passed >had >a genertor and had a tv out for everyone to see). Passed women praying, >men >reading Koran, most just huddled in groups talking. Strange being in the >middle of it all with limited ability to communicate. Know a few folks in >neighborhood and we had a few basic chats, though its amazing how much I >learned even from them. Already knew the Turkish word for earthquake, >which >is depram (revolution is devrim) and came in handy. > >A few seagulls just went by and I think a neighbor down stairs up and >about; >mistook that comotion for an aftershock. A little rattled myself; much >like >after SF quake. I think memory of that still deep seeded in my >subconscious. > >Again, this new technology amazes. Better get off and save my battery. >May >need it. > >Thanks for the note. It was good to see your messages there. I'll send >this to the rest of the family, but if they call tell them I'm ok and >worried about them worrying about me. > >Love, > >Mark > > > > >From: <tskilling@tribune.com> > >To: "Mark Skilling" <markskilling@hotmail.com> > >Subject: Re: earthquake---are you all right? > >Date: Mon, 16 Aug 1999 21:55:16 -0500 > > > > Mark-- > > Have just received word of the earthquake there. Reports are > > preliminary but they are reporting it hit just after 3AM your time > >and > > that buildings have collapsed and there are deaths--though they > > haven't said how many. It's being estimated at 7.1. > > I've called Mom and Dad---clearly, Mark, we're very concerned. > > Let us know you're all right. > > Have been meaning to get to you to say hello. Hvae been >following > > your e-mails. > > We're told phone lines are out--so haven't any idea when this > > might get to you. Please let us know you're all right. > > Thanks Mark. > > > > Love, > > Tom > > > > >______________________________________________________ >Get Your Private, Free Email at http://www.hotmail.com ______________________________________________________ Get Your Private, Free Email at http://www.hotmail.com
Tana/Karen/Kelly: Credit (Tom Moran) has approved copying the profiles for the following new product types; US Newsprint Fin Swap, US Packaging Fin Swap, US Recycled ONP#8 Fin Swap and US Recycled OCC #11 Fin Swap from the following: US Paper Fin Swap Credit (Tom Moran) has approved copying the profile for the new product type, US OSB Fin Swap, from the following: US Lumber Fin Swap Please respond by 5 p.m. today, Tuesday, March 27. Thank you. Stephanie ---------------------- Forwarded by Stephanie Sever/HOU/ECT on 03/27/2001 02:29 PM --------------------------- Enron North America Corp. From: Kevin Meredith @ ENRON 03/23/2001 08:24 AM To: Jeff Blumenthal/HOU/ECT, Susan Musch/ENRON_DEVELOPMENT, Bjorn Hagelmann/HOU/ECT, Mark Taylor/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT, Tom Moran/HOU/ECT, Shari Mao/HOU/ECT@ECT, Charlie Hoang/HOU/ECT, Laurie Lee/NA/Enron cc: Lisa Lees/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Kelly Lombardi/NA/Enron@Enron, Tara Sweitzer/HOU/ECT@ECT, Dawn C Kenne/HOU/ECT@ECT, Torrey Moorer/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT, Chris Walker/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT Subject: EOL PRODUCT TYPE APPROVAL for 5 Financial product types (Clickpaper to EOL migration) Your review and approval of the following 5 product types in the EOL Datamanager is needed (for directions on approval , please see steps for approval at the bottom of this e-mail). If you have any questions please call me at ext. 39555. US Newsprint Fin Swap USD/MT/M A US Newsprint Financial Swap Transaction with Enron North America Corp. under which the Seller pays a Floating Price and the Buyer pays the price submitted by Counterparty on the Website (the Fixed Price) in respect of the Notional Quantity per Determination Period. The Notional Quantity per Determination Period shall be the volume submitted by Counterparty on the Website. Each calendar month during the term of the Transaction will be a Determination Period. The Payment Date(s) will be 5 business days after the Floating Price is determinable. The Floating Price shall be the Index for the relevant Determination Period. US Packaging Fin Swap USD/ST/M A US Packaging Financial Swap Transaction with Enron North America Corp. under which the Seller pays a Floating Price and the Buyer pays the price submitted by Counterparty on the Website (the Fixed Price) in respect of the Notional Quantity per Determination Period. The Notional Quantity per Determination Period shall be the volume submitted by Counterparty on the Website. Each calendar month during the term of the Transaction will be a Determination Period. The Payment Date(s) will be 5 business days after the Floating Price is determinable. The Floating Price shall be the Index for the relevant Determination Period. US Recycled ONP #8 Fin Swap USD/ST/M A US Recycled Financial Swap Transaction with Enron North America Corp. under which the Seller pays a Floating Price and the Buyer pays the price submitted by Counterparty on the Website (the Fixed Price) in respect of the Notional Quantity per Determination Period. The Notional Quantity per Determination Period shall be the volume submitted by Counterparty on the Website. Each calendar month during the term of the Transaction will be a Determination Period. The Payment Date(s) will be 5 business days after the Floating Price is determinable. The Floating Price shall be the Index for the relevant Determination Period. US Recycled OCC #11 Fin Swap USD/ST/M A US Recycled Financial Swap Transaction with Enron North America Corp. under which the Seller pays a Floating Price and the Buyer pays the price submitted by Counterparty on the Website (the Fixed Price) in respect of the Notional Quantity per Determination Period. The Notional Quantity per Determination Period shall be the volume submitted by Counterparty on the Website. Each calendar month during the term of the Transaction will be a Determination Period. The Payment Date(s) will be 5 business days after the Floating Price is determinable. The Floating Price shall be the Index for the relevant Determination Period. US OSB Fin Swap USD/MSF A US OSB Financial Swap Transaction with Enron North America Corp. under which the Seller pays a Floating Price and the Buyer pays the price submitted by Counterparty on the Website (the Fixed Price) in respect of the Notional Quantity per Determination Period. The Notional Quantity per Determination Period shall be the volume submitted by Counterparty on the Website. Each calendar month during the term of the Transaction will be a Determination Period. The Payment Date(s) will be 5 business days after the Floating Price is determinable. The Floating Price shall be the Index for the relevant Determination Period. ============================================================================== ===== 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"
Sorry, I should have included you on copy list. Regards, Bruce ---------------------- Forwarded by Bruce Harris/NA/Enron on 12/13/2000 09:23 AM --------------------------- Bruce Harris 12/13/2000 09:29 AM To: Sheila Glover/HOU/ECT@ECT, Theresa T Brogan/HOU/ECT@ECT, Robert H George/NA/Enron@Enron, Donna Lowry/HOU/ECT@ECT cc: Bruce Harris/NA/Enron@Enron Subject: Re: Next steps with Copel shares Ok. FYI--we are still having discussions as to what exactly we are going to do with the shares now that they are directly held in the Corp. vault by Enron Brazil Power Holding XII. I suspect that what we will do will be to just keep all the shares in XII and put them into the brokerage account, with some sales occurring over time going forward. If this plan is agreed to, then early next week we can call BONY together with Morgan Stanley (our prime broker?) and work out a streamlined settlement procedure so that MS is assured that shares will be delivered. Regards, Bruce To: Bruce Harris/NA/Enron@Enron cc: Subject: Re: Next steps with Copel shares Bruce, Please add theresa brogan to the distribution list. Theresa manages the Equity Trading Group. Thanks, Sheila ---------------------- Forwarded by Sheila Glover/HOU/ECT on 12/13/2000 09:13 AM --------------------------- Lynn Aven@ENRON 12/12/2000 10:04 AM To: Bruce Harris/NA/Enron@Enron cc: Robert H George/NA/Enron@Enron, Kay Young/HOU/ECT@ECT, Dan Boyle/Corp/Enron@Enron, Joe Kishkill/SA/Enron@Enron, Kent Castleman/NA/Enron@Enron, Bruce Harris/NA/Enron@Enron, Sheila Glover/HOU/ECT@ECT, Edward E Graham/SA/Enron@Enron, Rick Hopkinson/NA/Enron@Enron, Jeffrey E Sommers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Re: Next steps with Copel shares Bruce Harris: We do not need to set up a new Cayman entity to transfer the two certificates for 1.25M to. We achieve no US tax benefit for transferring or holding the shares in a Cayman entity. I propose that EBPH XII obtain the two certificates and then distribute those certificates to Enron South America LLC, the sole shareholder of EBPH XII. The value of the certificates at the date of transfer will determine the US tax treatment. Given the liquidity discount surrounding the stock, using the screen price on the date of the transaction is probably not a good indicator of the fair market value. For tax purposes, we will assume the value to be the historical cost basis since recent trades have been in a narrow band on either side of that value. If the first 1.25M certificate is sold shortly after the transfer to Enron South America LLC, we will need to adjust the transfer price since the sales price to a third party will be a valid indicator of what the fair market value was on the date of the distribution.. If the ultimate transfer price is higher than the tax basis, EBPHXII will recognize taxable income and pay US tax on the gain in the year the distribution was made to Enron South America LLC. This would result in reporting a tax expense in 2000 and perhaps book income in 2001 if that sale takes place after the end of the year. If the value on the date of the transfer is ultimately determined to be less than the historical tax basis, the distribution to Enron South America LLC will result in there being unrecovered basis in EBPH XII. If the shares are sold by EBPH XII to affiliated Cayman companies, the same valuation issues exist with the same potential for recognition of US gain on the sale from EBPH XII to an affiliated. Distributing the shares to Enron South America LLC will be much easier. Lynn Bruce Harris 12/08/2000 11:31 AM To: Robert H George/NA/Enron@Enron, Kay Young/HOU/ECT@ECT cc: Dan Boyle/Corp/Enron@Enron, Lynn Aven/NA/Enron@Enron, Joe Kishkill/SA/Enron@Enron, Kent Castleman/NA/Enron@Enron, Bruce Harris/NA/Enron@Enron, Sheila Glover/HOU/ECT@ECT, Edward E Graham/SA/Enron@Enron, Rick Hopkinson/NA/Enron@Enron, Jeffrey E Sommers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Next steps with Copel shares Robert and Kay, thanks for all your work on getting the shares moved out of Brazil and into the parent CayCos. I understand that by sometime early next week the physical ADR certificates will be returned by BONY to the Enron vault. Here is what we now need to do: 1. We are going to need to send one certificate back to BONY and split it into three new certificates. Two certificates will be for approximately 1.25M shares each, the balance for about 5M shares. 2. We need to form a new CayCo and sell or otherwise transfer (capital split?) the two 1.25M tranches to this NewCo. This needs to happen next week. 3. Pending Dan Boyle's structuring efforts and an affirmative Corp. decision (supervised by Joe Kishkill), the two existing CayCos which now own the Copel shares will be sold into Whitewing Fund. That means about 12.5M shares will go to Whitewing and the certificates will remain in the vault. This would happen last week of the year--if it happens (there are actually about 15,443,000 total ADRs--I am approximating in this email). 4. The NewCo shares will remain outside this structure entirely. We will need to put one tranche of 1.25M into a brokerage account--Sheila at this point we will bring you in for assistance (again, hopefully next week). 5. Robert--we need to work out soon with Sheila, Skadden,and BONY to establish an efficient mechanism to convert the full 1.25M share certificate to unrestricted ADRs absent and prior an immediate buyer(s)--or we need to figure out foolproof mechanics for constantly reissuing new certificates for every small sale. We will then be looking for effective points to sell these 1.25M shares--and again, Joe Kishkill will provide price/volume targets (execution via Gary Hickerson's group who has not yet been informed). In 3 months time, we will repeat the process for the other 1.25M tranche. Robert--please call me so we can determine: (a) how to set up NewCo/transfer shares, and (b) how to work the 1.25M "unrestriction" with BONY and Skadden. Regards, Bruce 713-853-0950
Chris and Ben: Since Kay is tied up on a 3:00 conference call, she asked me to summarize the issues raised by Marguerite's latest mark-ups. The issues are as follows: 1. In Section 6(h) regarding the Change Order, Marguerite has added a rider pursuant to which ENA would be required "to cause the Original Purchaser and/or the Agent to use commercially reasonable efforts to afford NorSub (or its agent or representative), upon request of NorSub, such opportunity or opportunities to discuss with GE (or to consult with GE concerning) such matters pertaining to the Turbines and/or the Original Turbine Contract as NorSub desires to discuss with GE (or to consult with GE concerning) and which GE is obligated under the Original Turbine Contract to discuss with (or concerning which GE is obligated under the Original Turbine Contract to consult with) the Purchaser and/or Agent thereunder; provided, however, that each of ENA, the Original Purchaser and the Agent shall have the right to be present at, and to participate in, each such discussion (or consultation." According to Jerry DeBerry, Michael Young raised this concept with Ben, and Ben accepted it in principle. Please confirm if you are okay with this rider going into the Letter Agreement. 2. In Section 8(a), Marguerite has added a clause whereby ENA agrees to be responsible for, and to pay GE when due, and to hold the LLC and NorSub harmless from any damages or indemnification payments which become due and payable to GE on and after the Closing Date as a result of any event occurring, or any circumstance arising, prior to the Closing Date. Since this provision effectively shifts the Change Order risk onto ENA, Kay suggests that we only accept the provision if a reciprocal provision is included that allows ENA to terminate the agreement as a result of any event or circumstance that increases the Purchase Amount. Do you agree? 3. Finally, with respect to the LLC Agreement, NorthWestern would like to be able to exercise its call rights with relative freedom while forcing ENA to wait until Takeover or 12/31/02 before being able to exercise its put rights. Neither Jerry nor Marguerite understands why ENA cares when NorthWestern takes ENA out. Jerry and Marguerite were working on scheduling a conference call for sometime tomorrow, so I will send you an e-mail confirming the details as soon as I hear back from them. Best regards, Marisa -----Original Message----- From: Chris.Booth@enron.com [mailto:Chris.Booth@enron.com] Sent: Tuesday, April 10, 2001 9:22 AM To: Young, Michael Cc: Kay.Mann@enron.com; jkeffer@kslaw.com; mreuter@kslaw.com; Ben.Jacoby@enron.com Subject: Re: FW: Comments to Turbine Purchase Documents Michael, We (Enron and outside counsel) have not received any documents either faxed or via e-mail as of Tuesday morning. Once we receive the documents, we would like time to review the comments before we engage in a conference call. Please either resend the documents to Kay Mann, John Keffer and myself. Regards, Chris "Young, Michael" <Michael.Young@northwestern.com> on 04/10/2001 08:18:31 AM To: "'chris.booth@enron.com'" <chris.booth@enron.com> cc: Subject: FW: Comments to Turbine Purchase Documents Chris, in case Kay is not in today, I provide this to you. Please forward to Ben at your earliest convenience. Thanks. -----Original Message----- From: DeBerry, Jeremiah A. [mailto:JeremiahDeberry@paulhastings.com] Sent: Monday, April 09, 2001 5:43 PM To: 'Kay.Mann@Enron.com'; 'JKeffer@KSlaw.com' Cc: Young, Michael; Kahn, Marguerite R. Subject: Comments to Turbine Purchase Documents We have forwarded to you via facsimile our comments to the Letter Agreement and the LLC Agreement. The majority of our comments, as you will note, are intended to clarify the understanding of the parties with respect to the various matters set forth in such documents and are not intended to "change the deal". Except that, upon the advise of our tax counsel, we have adjusted the amounts of the promissory notes to be issued in connection with the transaction in order to maximize the LLC's basis in the Turbines. We believe this is consistent with your initial draft of the Letter Agreement. Also, please note that we have included additional language in Section 6 of the Letter Agreement which provides NorthWestern with the opportunity to consult with GE on matters relating to the Turbines. This reflects our understanding of an agreement that had been reached among the parties. With respect to the LLC Agreement, we would like to discuss with you the following: (i) the timing of the exercise of the Call Right and (ii) the intent of your proposed language in Section 7 relating to the rights of each Member to act in its own best interests with respect to the Call and Put Rights. To that end, we propose scheduling a conference call on Tuesday afternoon, April 11, 2001. Please contact me as soon as possible with a time that is convenient for your team. We look forward to hearing from you. Note: We will forward to you shortly, revised drafts of the documents for which we have drafting responsibility. ************************************************ Jeremiah A. DeBerry, Esq. 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Cynthia, My apologies for the perceived tone of my message. I was just trying to explain what I was expecting and how I got there. I will follow up with Tracy and Accounting for this information. Again, my apologies, Tom -----Original Message----- From: Barrow, Cynthia Sent: Tuesday, August 07, 2001 8:57 AM To: Meers, Thomas Cc: Geaccone, Tracy Subject: RE: Benefits Costs You know, I am just too busy to deal with the tone of your messages right now. Give me a contact at AA and as soon as I finish my budget and pricing projects I will call them directly. Before I can do anything, I need the Enron company number for EGP fuels. I do know that our actuary has never broken out the expense or PBO for this company. Until I know what the company number is we won't know which ETS group it was consolidated within. Probably the Services Group, but maybe Corp. Once we know that then either the ETS accounting or corp. accounting can look into the actual intercompany allocations if any. Tracy, can you do me a favor and look into how you all do the accounting for this company and I'll try to give you a call later this week. (Tracy, I may be able to locate the 2000 and possibly the 2001 allocation sheets but I am not comfortable that we will still have the budget information for 1998 and 1999. In addition, the true-ups definately do not go to this level.) Arthur Anderson is in the process of completing the preparation of audited financials for EGP Fuels Company. Included with these financials are footnote disclosures. Please provide the following information to be included with these financials. 1) Total charges from Enron Corp for EGP Fuels employee benefit plans for 1998, 1999, and 2000. (I would think that the books of EGP should show the actual charges. Our reserve records only provide a total distribution allocation. This will have to come from accounting.) 2) EGP Fuels' Enron Retirement Plan pension costs for 1998, 1999, and 2000. (As stated, this is not prepared at the EGP level. The best we can do here is to work with the actuary to do an estimate of the costs but this will likely require a historical pull of information which you may or may not have available. I'll need to speak with AA&CO directly to determine best course of action.) 3) EGP Fuels' Accumulated Postretirement Benefit Obligation (APBO) for benefit plans other than pensions net periodic postretirement benefit costs for 1998, 1999, and 2000. (Same as above.) -----Original Message----- From: Meers, Thomas Sent: Tuesday, August 07, 2001 8:02 AM To: Barrow, Cynthia; Huseman, Sandy Subject: RE: Benefits Costs Cynthia, Please note that Sandy and I did talk but I was left with the expectation that I would still receive some type of response, even if that response was merely that the information is not available. Also, it was suggested that I try contacting You, Mikie and Sandy for this information but I did not receive a response from any of you without additional proding. And, those responses left me believing that I would hear more from you, which I did not. Lastly, I did mention that if necessary we could look at using Financial Accounting for this information but this is not desirable since this method will result in fragmented and less accurate information. Also, Arthur Andersen has indicated that this is not the preferred method of providing this information. Based on the email which follows below I will assume that Financial Accounting is my only recourse and that You will assist in convincing Arthur Andersen that this is the only alternative available to meet their timing requirements. Tom X54899 -----Original Message----- From: Barrow, Cynthia Sent: Monday, August 06, 2001 11:16 AM To: Huseman, Sandy; Meers, Thomas Subject: FW: Benefits Costs Sandy told me she talked with you last week in the elevator lobby. Just so you know I am not ignoring you I have literally worked 4 weeks straight without a day off and with an average of 14 hour days! I can not do this until my budgets and medical pricing are complete. If you need it immediately, then you will need to do what Sandy talked with you about last week and that is to get with Financial Accounting. There is no way I can look at this until later this week. -----Original Message----- From: Meers, Thomas Sent: Monday, August 06, 2001 11:08 AM To: Olson, Cindy Cc: Barrow, Cynthia Subject: FW: Benefits Costs Cindy, Arthur Andersen has requested benefits information necessary to complete audited financials that are required to complete Project Timber (the sale of the MTBE assets to EOTT). The following requests have not been acknowledged and remain unanswered. Please let me know who I should contact for this information. Arthur Andersen has since also requested this information for the 6 months ending June 30, 2000 and June 30, 2001. Any guidance you can provide is greatly appreciated. Thanks, Tom X54899 -----Original Message----- From: Meers, Thomas Sent: Friday, August 03, 2001 3:12 PM To: Meers, Thomas; Barrow, Cynthia; Rath, Mikie; Huseman, Sandy Subject: RE: Benefits Costs Hello?! Is anyone going to acknowledge this request? Any suggestions on where I should go for this information? -----Original Message----- From: Meers, Thomas Sent: Wednesday, August 01, 2001 3:23 PM To: Meers, Thomas; Barrow, Cynthia; Rath, Mikie; Huseman, Sandy Subject: RE: Benefits Costs Cynthia/Mikie/Sandy, What is the status of this request? Enron would like to sign off on the audit by the end of this week. Tom X54899 -----Original Message----- From: Meers, Thomas Sent: Tuesday, July 17, 2001 8:44 AM To: Barrow, Cynthia; Rath, Mikie; Huseman, Sandy Subject: Benefits Costs Arthur Anderson is in the process of completing the preparation of audited financials for EGP Fuels Company. Included with these financials are footnote disclosures. Please provide the following information to be included with these financials. 1) Total charges from Enron Corp for EGP Fuels employee benefit plans for 1998, 1999, and 2000. 2) EGP Fuels' Enron Retirement Plan pension costs for 1998, 1999, and 2000. 3) EGP Fuels' Accumulated Postretirement Benefit Obligation (APBO) for benefit plans other than pensions net periodic postretirement benefit costs for 1998, 1999, and 2000. Please let me know if and when this information may be available. Thanks, Tom X54899
Certainly understand the tradition you have with OU/Texas and it would be hard. I imagine David is starting to feel a little cocky, given we should be undefeated going into Texas, but he may still need to seek the shelter of the study, as I know Texas is not going to roll over and play dead. Sounds like Meagan has a full agenda this Fall and a trip to Norman would only get in the way. I'm sure David will not let the fire die, if she is truly interested in OU. FYI, OU's Spring Break is March 17-25 next year. So you can plan accordingly. Let me know if you decide when you decide to come up and I can get you lined up with Prospective Student Services for a tour. Also, I remember you telling me about your concerns about grades. I know that OU requires a 24 on the ACT, or finish in the top 1/3 of your graduating class. It is my understanding that will soon be increasing to 26 or top 30% of graduating class. Looks like OU is following UT on tightening entrance requirements. I can get you shirts caps, sweatshirts, etc. for OU, UT and Tech. You can go to Bigtimesports.com and look at the styles. I think they are also in the school colors. If you see a style you like, let me know the size shape and school and I can order it. If some of it is for you, let me know, as they have different styles for women. Also, I can have logo's etc. reduced (like I did on your Bevo on your shirt) so they are not so big. I always have them reduce the OU from 1 3/4" to a 1 1/4" size, so I don't look like a "poster boy" for OU. Anyway, let me know and I will order them for you. Let me know when you hear back from Lexi about your discussion relative to summer internship recruiting. Ted K. Jacobs Director of Energy Management The University of Oklahoma 307 West Brooks, Room 218 Norman, OK 73019-4007 (405)325-0758 Fax (405)325-2096 E-mail: tjacobs@ou.edu Website: www.ou.edu/business/em -----Original Message----- From: Sally.Beck@enron.com [mailto:Sally.Beck@enron.com] Sent: Monday, September 25, 2000 1:23 PM To: Jacobs, Ted K Subject: RE: Oklahoma Trip Thanks for looking into the OU/Texas tickets for us. With the ages of the kids, I think that we will pass on those single tickets. The kids love our home tradition for the game, and weren't sure that they wanted to give that up. (I have cake pans in the shape of the state of Texas and the state of Oklahoma - one daugther decorates one, and the other decorates the second cake - add some bean dip and chips and it's our own version of a tailgate party!) We were hoping to bring Meagan up to look at OU this fall, with our eye on that last game of the season. However, Klein High School has started the football season very strongly, winning all games to date. That means that we may be headed for high school playoffs again this year. Meagan is on the drill team and must be at all games. Last year, we played right up to Thanksgiving in the playoffs. So, we have decided to pick a weekend in the spring after drill team contest season is over to make that trip with Meagan. We are interested in caps, shirts, etc. for UT, OU and Texas Tech. Do you have a list of what is available for those schools? "Jacobs, Ted K" <tjacobs@ou.edu> on 09/23/2000 03:07:11 PM To: "'Sally.Beck@enron.com'" <Sally.Beck@enron.com> cc: Subject: RE: Oklahoma Trip Thanks for the nice words. I hope Enron will be able to look at some students for summer internships, as I am sure they will be gone by Spring. As far as Texas tickets go, I can come up with 5 singles, but not 5 together or even 3 and 2. Let me know if interested and I will try to get them. Might be able to trade up or something. Let me know what other schools you are talking about and I can find out for you. Again, thank you for taking time out your schedule to come up and be a part of the OU recruiting effort. It has been your support and efforts that we have to thank for Enron coming to OU. Keep me posted on what you work out with HR with regards to summer interns. "Hook Em" Ted K. Jacobs Director of Energy Management The University of Oklahoma 307 West Brooks, Room 218 Norman, OK 73019-4007 (405)325-0758 Fax (405)325-2096 E-mail: tjacobs@ou.edu Website: www.ou.edu/business/em -----Original Message----- From: Sally.Beck@enron.com [mailto:Sally.Beck@enron.com] Sent: Friday, September 22, 2000 5:30 PM To: Jacobs, Ted K Subject: Oklahoma Trip It was good to see you in Norman earlier this week. As always, I appreciated your attendance at the presentation and at Coach's afterwards. I am sure that it is rewarding for you to see former students such as Jody and Nate participating on the other side of the recruiting table. You have done a great job in changing and promoting the program. I am pushing Lexi to resolve the question around interview dates for summer interns ASAP. I have also left Mike McConnell a message to make him aware of the issue. I should be able to get back with you next week, hopefully with a change in our strategy! If you do become aware of five OU /Texas tickets, please let me know. We will certainly purchase them, I just made the assumption that all tickets may already be sold. On another note, David has worn his OU shirt to work and has gotten lots of compliments. He has a number of people that have asked him about school shirts, caps, etc. Do you have a list of the schools that you can get merchandise for and the types of merchandise that you can get? Let me know -- we can probably place a few orders through you!
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I do remember most of these things. Have a great day. MW > > -- > Nice thoughts ..... > > > > > > > > > > > > > > If you are old enough...take a stroll with me...close your > > > > > > > eyes...and go back...before the Internet...before > > > > > > > semiautomatics and crack...before SEGA or Super > > > > > > > Nintendo...way back... > > > > > > > > > > > > > > I'm talking' bout hide and go seek at dusk. Sitting' on the > > > > > > > porch, Simon Says, Kick the Can, Red light, Green light. > > > > > > > Lunch boxes with a thermos...chocolate milk, going home for > > > > > > > lunch, penny candy from the store, hopscotch, butterscotch, > > > > > > > skates with keys, Jacks, Mother May I? Hula Hoops and > > > > > > > sunflower seeds, Whist and Old Maid and Crazy Eights, wax > > > > > > > lips and mustaches, Mary Janes, saddle shoes and Coke bottles > > > > > > > with the names of cities on the bottom, running through the > > > > > > > sprinkler, circle pins, bobby pins, Mickey Mouse Club, Rocky > > > > > > > & Bullwinkle, Fran & Ollie, Spin & Marty...all in black & > > > > > > > white. > > > > > > > > > > > > > > When around the corner seemed far away, and going downtown > > > > > > > seemed like going somewhere. Bedtime, climbing trees, > > > > > > > making forts...backyard shows, lemonade stands, Cops and > > > > > > > Robbers, Cowboys and Indians, sittin' on the curb, staring > > > > > > > at clouds, jumping down the steps, jumping on the bed, > > > > > > > pillow fights, getting "company," ribbon candy, angel hair > > > > > > > on the Christmas tree, Jackie Gleason, white gloves, walking > > > > > > > to church, walking to the movie theater, being tickled to > > > > > > > death, running till you were out of breath, laughing so hard > > > > > > > that your stomach hurt, being tired from playin' ... > > > > > > > Remember that? Not steppin' on a crack or you'll break your > > > > > > > mother's back...paper chains at Christmas, silhouettes of > > > > > > > Lincoln and Washington...the smell of paste in school and > > > > > > > Evening in Paris. > > > > > > > > > > > > > > What about the girl that had the big bubbly handwriting, who > > > > > > > dotted her "i's" with hearts?? The Stroll, popcorn balls, & > > > > > > > sock hops...Remember when...there were two types of > > > > > > > sneakers for girls and boys (Keds & PF Flyer) and the only > > > > > > > time you wore them at school was for "gym." And the girls > > > > > > > had those ugly uniforms. > > > > > > > > > > > > > > When it took five minutes for the TV to warm up. When > > > > > > > nearly everyone's Mom was at home when the kids got home > > > > > > > from school. When nobody owned a purebred dog. > > > > > > > > > > > > > > When a quarter was a decent allowance, and another quarter, > > > > > > > a huge bonus. When you'd reach into a muddy gutter for a > > > > > > > penny. When girls neither dated nor kissed until late high > > > > > > > school, if then. When your Mom wore nylons that came in two > > > > > > > pieces. When all of your male teachers wore neckties and > > > > > > > female teachers had their hair done, everyday and wore high > > > > > > > heels. > > > > > > > > > > > > > > When you got your windshield cleaned, oil checked, and gas > > > > > > > pumped, without asking, all for free, every time. And, you > > > > > > > didn't pay for air. And, you got trading stamps to boot! > > > > > > > When laundry detergent had free glasses, dishes or towels > > > > > > > hidden inside the box. > > > > > > > > > > > > > > When any parent could discipline any kid, or feed him or use > > > > > > > him to carry groceries, and nobody, not even the kid, > > > > > > > thought a thing of it. When it was considered a great > > > > > > > privilege to be taken out to dinner at a real restaurant > > > > > > > with your parents. When they threatened to keep kids back a > > > > > > > grade if they failed...and did! When the worst thing you > > > > > > > could do at school was smoke in the bathrooms, flunk a test > > > > > > > or chew gum. And the prom was in the auditorium and we > > > > > > > danced to an orchestra, and all the girls wore pastel gowns > > > > > > > and the boys wore suits for the first time and we stayed out > > > > > > > all night. > > > > > > > > > > > > > > When a '57 Chevy was everyone's dream car...to cruise, peel > > > > > > > out, lay rubber or watch submarine races, and people went > > > > > > > steady and girls wore a class ring with an inch of wrapped > > > > > > > dental floss or yarn coated with pastel frost nail polish so > > > > > > > it would fit her finger. > > > > > > > > > > > > > > And no one ever asked where the car keys were 'cause they > > > > > > > were always in the car, in the ignition, and the doors were > > > > > > > never locked. And you got in big trouble if you > > > > > > > accidentally locked the doors at home, since no one ever had > > > > > > > a key. Remember lying on your back on the grass with your > > > > > > > friends and saying things like "That cloud looks like a..." > > > > > > > > > > > > > > And playing baseball with no adults to help kids with the > > > > > > > rules of the game. Back then, baseball was not a > > > > > > > psychological group learning experience -- it was a game. > > > > > > > > > > > > > > Remember when stuff from the store came without safety caps > > > > > > > and hermetic seals 'cause no one had yet tried to poison a > > > > > > > perfect stranger. And...with all our progress...don't you > > > > > > > just wish...just once...you could slip back in time and > > > > > > > savor the slower pace...and share it with the children of > > > > > > > the 80's and 90's ... > > > > > > > > > > > > > > So send this on to someone who can still remember Nancy > > > > > > > Drew, The Bobsy Twins, The Hardy Boys, Laurel & Hardy, > > > > > > > Howdy Doody and The Peanut Gallery, The Lone Ranger, > > > > > > > The Shadow Knows, Nellie Belle, Roy and Dale, Trigger and > > > > > > > Buttermilk...as well as the sound of a reel mower on Saturday > > > > > > > morning, and summers filled with bike rides, playing in cowboy > > > > > > > land, baseball games, bowling and visits to the pool...and > > > > > > > eating Kool-aid powder with sugar. > > > > > > > > > > > > > > When being sent to the principal's office was nothing > > > > > > > compared to the fate that awaited a misbehaving student at > > > > > > > home. Basically, we were in fear for our lives, but it > > > > > > > wasn't because of drive by shootings, drugs, gangs, etc. > > > > > > > Our parents and grandparents were a much bigger threat! But > > > > > > > we all survived because their love was greater than the > threat. > > > __________________________________________________________________ Get your own FREE, personal Netscape Webmail account today at http://webmail.netscape.com/
Lots of fun for the family.. >From: "Josh Hogarth" <josh_hogarth@hotmail.com> >To: darrenhoboken@yahoo.com, edo711@hotmail.com, b_strachan@hotmail.com, >davidclement2@hotmail.com, damclean10@hotmail.com, fchapman@hotmail.com, >troyboy_15@hotmail.com, wtrower@hotmail.com >Subject: Fwd: FIND THE PEACH >Date: Sat, 07 Apr 2001 21:57:59 -0400 > > > > >>From: "K Hogarth" <kealyhogarth@hotmail.com> >>To: dannii1979@hotmail.com, arubino@gemgroup.com, >>robinsonalexis@hotmail.com, aljeffrey@statestreet.com, >>amberbingley@hotmail.com, andreamferguson@hotmail.com, >>cjallan24@yahoo.com, davemcgoo@yahoo.com, macdad14@hotmail.com, >>seamandonna@hotmail.com, eldowney25@hotmail.com, barnettemma@yahoo.com, >>hjdarlington@yahoo.co.uk, hilary_march@yahoo.ca, jwlp36@hotmail.com, >>harveyje@ucdsb.on.ca, josh_hogarth@hotmail.com, joshroussel@yahoo.com, >>KateMelber@hotmail.com, rk.coleman@sympatico.ca, >>psycho_boob_woman@yahoo.com, KERRI_14@YAHOO.COM, kfernie79@hotmail.com, >>mucklytalk@hotmail.com, laoiseOS@yahoo.com, leighgraff@hotmail.com, >>Lynne013@yahoo.com, paulamando@hotmail.com, dwd@magma.ca, >>stickymarie@hotmail.com, mh104@evansville.edu, antique@superaje.com, >>omaryes@hotmail.com, paulyoudons@hotmail.com, rjarvis@psfdh.on.ca, >>sjscully@yahoo.co.uk, t2lewis@hotmail.com >>Subject: Fwd: FIND THE PEACH >>Date: Fri, 06 Apr 2001 17:14:39 -0400 >> >> >> >> >>>From: "Ashley Murphy" <frums_8@hotmail.com> >>>To: a_cockins@hotmail.com, cartz_1@hotmail.com, cbryson_1@hotmail.com, >>>crissy_nap@hotmail.com, keaterhead@usa.net, jessicah_22@hotmail.com, >>>jilly_bean018@hotmail.com, Bolts_69@hotmail.com, >>>murphy_kathryn@hotmail.com, rk.coleman@sympatico.ca, >>>kealyhogarth@hotmail.com, hough_kristi@hotmail.com, >>>leanne_east@hotmail.com, zilzil@hotmail.com, murph_10_@hotmail.com, >>>tiggirl@hotmail.com, mthornton21@hotmail.com, miranda_tweedy@hotmail.com, >>>oshkamonk@hotmail.com, sarahh_11@hotmail.com, sarah_k2@hotmail.com, >>>sassha67@hotmail.com, sweetpealuv69@hotmail.com, Rudster_17@hotmail.com, >>>hockeychik66@hotmail.com, 9slc3@qlink.queensu.ca, taessy@yahoo.com >>>Subject: FIND THE PEACH >>>Date: Fri, 06 Apr 2001 15:20:02 -0000 >>> _________________________________________________________________ Get your FREE download of MSN Explorer at http://explorer.msn.com >From: "Brynn Witton" >To: jenny_mcewen@hotmail.com, jordanberard@hotmail.com, parksempire@hotmail.com, princessferron@yahoo.com, gribbs33@hotmail.com, maestro613@hotmail.com, babyblu_02@hotmail.com, sketch_hed@hotmail.com, _dreamingtree@excite.com, jadjemian@hotmail.com, coxycarrie@hotmail.com, kiddo_jodi@hotmail.com, freckle_bean@hotmail.com, tbov@excite.com, steph_bizzarr@hotmail.com, theshoequeen69@hotmail.com, funryan220@hotmail.com, taessy@yahoo.com, danmcgahey@hotmail.com, rewind_this@hotmail.com, frums_8@hotmail.com, emily_mcmanus@hotmail.com, erin_tb@hotmail.com, wandering_fool@hotmail.com, sunnyo11@hotmail.com, lia70@hotmail.com, ms_golightly_29@hotmail.com, vanessa_fraser@yahoo.ca, phil71@hotmail.com, geneticmisfit@hotmail.com, wince_dwtc@hotmail.com, muhammad_collins@hotmail.com, princess_extrachna@hotmail.com >Subject: Fwd: FW: FIND THE PEACH >Date: Thu, 05 Apr 2001 22:38:12 -0400 > >From: "Jessica Simpson" >To: brynn@hotmail.com, popasgirl@hotmail.com, jenscotts@hotmail.com, greatruchi@yahoo.com, bad_boy79uk@hotmail.com, chiquita1008@hotmail.com, jamboree_girl@hotmail.com, happy_angel314@hotmail.com, sensation@sprint.ca, cmarsico@yahoo.com, blizzard380@yahoo.com >Subject: Fwd: FW: FIND THE PEACH >Date: Thu, 05 Apr 2001 13:55:00 -0400 > >From: "Wendy Yang" >To: erin241@hotmail.com, krucks@sympatico.ca, nadaabo@hotmail.com, natcouto@hotmail.com, happy_princess5@hotmail.com, 98adeoye@scar.utoronto.ca >Subject: Fwd: FW: FIND THE PEACH >Date: Thu, 05 Apr 2001 16:35:48 > My friend Wendy sent me this one. It's called find the peach kind of like finding Waldo. Have fun. This is a good one. ? Return-path: <Binge7777@aol.com> From: Binge7777@aol.com Full-name: Binge7777 Message-ID: <10.ae8e707.27f61ceb@aol.com> Date: Fri, 30 Mar 2001 12:31:23 EST Subject: Fwd: FW: FIND THE PEACH To: Sclangille@aol.com MIME-Version: 1.0 Content-Type: multipart/mixed; boundary="part2_85.8f2152a.27f61ceb_boundary" X-Mailer: AOL 6.0 for Windows CA sub 36 Return-Path: <falala69@hotmail.com> Received: from rly-yh01.mx.aol.com (rly-yh01.mail.aol.com [172.18.147.33]) by air-yh05.mail.aol.com (v77_r1.36) with ESMTP; Thu, 29 Mar 2001 14:36:34 -0500 Received: from hotmail.com (f44.law7.hotmail.com [216.33.237.44]) by rly-yh01.mx.aol.com (v77_r1.36) with ESMTP; Thu, 29 Mar 2001 14:36:04 -0500 Received: from mail pickup service by hotmail.com with Microsoft SMTPSVC; Thu, 29 Mar 2001 11:36:03 -0800 Received: from 24.157.0.123 by lw7fd.law7.hotmail.msn.com with HTTP; Thu, 29 Mar 2001 19:35:54 GMT X-Originating-IP: [24.157.0.123] From: "ralph intranuovo" <falala69@hotmail.com> To: thebiglad69@hotmail.com, bastone_4life@hotmail.com, fra_21@hotmail.com, jer_suth@hotmail.com, smoken35@hotmail.com, bigbastone1@hotmail.com, intro_19@hotmail.com, bastoneboy@hotmail.com, Binge7777@aol.com Subject: Fwd: FW: FIND THE PEACH Date: Thu, 29 Mar 2001 14:35:54 -0500 Mime-Version: 1.0 Content-Type: multipart/mixed; boundary="----=_NextPart_000_3b5b_2728_365d" Message-ID: <F44WhlEqwdD8sMezIZY00010739@hotmail.com> X-OriginalArrivalTime: 29 Mar 2001 19:36:03.0528 (UTC) FILETIME=[7DB1E480:01C0B887] X-Mailer: Unknown (No Version) >From: "Angie D'Annibale" >To: angelanuzzi10@hotmail.com, wrkord@idirect.ca, bmazzotta@todaysparent.com, falala69@hotmail.com, fbellissimo@hotmail.com, femanuele@todaysparent.com, joe.barbieri@cibc.com, smoken35@hotmail.com, leahnuzzi@hotmail.com, lascenzo@hotmail.com, MGalluzz@DWB.COM, bubbles_3003@hotmail.com, nalmeida@todaysparent.com, intro_19@hotmail.com, rcroft@loclaw.com, scornaienchi@sympatico.ca, sugallu@tor.axxent.ca, mr.vo@Sympatico.ca, pinto9@hotmail.com >Subject: Fwd: FW: FIND THE PEACH >Date: Thu, 29 Mar 2001 11:46:23 -0500 > Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com. ? - peach.jpg
FYI - This is to update you on several CA bills that may have implications for green energy/renewables. Bills previously discussed SBX2 78 Status: Last night the bill was approved by the State Assembly. Will be returned to Senate for reconciliation. Link: <http://info.sen.ca.gov/cgi-bin/postquery?bill_number=sbx2_78&sess=CUR&house=B&site=sen> SB 532 Status: Heard by Assembly Utilities and Commerce Ctte., failed passage Link: <http://info.sen.ca.gov/cgi-bin/postquery?bill_number=sb_532&sess=CUR&house=B&site=sen> "Windfall profits tax" bills: Generally, these bills impose a tax on electricity sales beyond a specified baseline price (see article below for more detail). Note the exemptions: SBX2 1 Status: Expected to be heard by Assembly floor on Monday Link: <http://info.sen.ca.gov/cgi-bin/postquery?bill_number=sbx2_1&sess=CUR&house=B&site=sen> Exemptions include: "generators of renewable energy sources, as defined, qualifying small production facilities, or qualifying cogeneration facilities. In addition, this bill would not apply to sales of electricity made by local publicly owned utilties made under specified conditions or to generation units used to serve the electrical load of a generation facility" ABX2 2 Status: Expected to be considered by State Assembly today. If it passes, it will go back to the Senate. Link: <http://info.sen.ca.gov/cgi-bin/postquery?bill_number=abx2_2&sess=CUR&house=B&site=sen> Exemptions include: "...the tax imposed under this part shall not apply to sales of electricity, sold for consumption in this state, made by qualifying facilities. (c) For purposes of this section, the term "qualifying facilities" includes qualifying small power production facilities or qualifying cogeneration facilities within the meaning of Sections 201 and 210 of Title II of the federal Public Utility Regulatory Policies Act of 1978 (16 U.S.C. Secs. 796(17), 796(18), 824a-3), and the regulations adopted pursuant to those sections by the Federal Energy Regulatory Commission (18 C.F.R. Secs. 292.01 to 292.602, inclusive), and other generation units installed, operated, and maintained at a customer site exclusively to serve that facility's load. ****************** 2 Elec Profits Tax Bills On The Move In Calif Assembly By Jessica Berthold 09/06/2001 Dow Jones Energy Service (Copyright (c) 2001, Dow Jones & Company, Inc.) OF DOW JONES NEWSWIRES LOS ANGELES (Dow Jones)--The California Assembly is to consider a bill Friday to place a progressive tax on electricity sales in California , the second windfall profits tax measure to be heard by legislators in a week. Under Assembly Bill 2XX, introduced by Assemblywoman Ellen Corbett, D-San Leandro, generators wouldn't be taxed on power priced below $60 per megawatt-hour. Prices above $60/MWh would be subject to a gradually increasing tax. The first $30 charged by suppliers over the $60/MWh baseline would be taxed at a 50% rate. The next $30 would be taxed at 70%. Anything higher would be taxed at 90%. The tax would be retroactive to Jan. 1, 2001 and effective through 2005. Tax proceeds would be used to fund a state sales tax holiday on the first weekend in December. Alternative energy suppliers, or "qualifying facilities," as well as self-generators, would be exempt from the tax. Any excess receipts after the sales tax holiday would be used to provide tax credits to companies for building new generation. "AB 2XX will help Californians recoup and regain financial footing in an economy that is changing very quickly," said Corbett. "This measure is a major step for California 's recovery from this year's disastrous energy crisis." If the bill passes the Assembly floor, it will move to the Senate for committee and floor votes. The legislature is set to adjourn Sept. 14. Similar Bill On Assembly Floor Monday A second windfall profits tax bill is likely to be heard on the Assembly floor Monday, said a spokesman for the bill's sponsor, Sen. Nell Soto, D-Ontario. The bill passed out of the Assembly Appropriations Committee Thursday. The bill, SB 2XX, would require state regulators to establish a cost-based price for electricity for each plant in the state. Sellers would be taxed 100% on any sales from a plant that exceeded its cost-based price, and the money would be used for taxpayer rebates. The cost-based price would include up to a 20% return on invested capital. The tax, which would be effective retroactively to Jan. 1, 2001, would apply to the last sale before electricity hits the power grid, and so would include marketers as well as generators. Co-generation facilities and renewable generators would be exempt, as would some state municipal utilities. The bill has a good chance of passing the Assembly floor, since only a majority vote is required and Democrats dominate the Assembly 50-30, said Soto spokesman Paul Van Dyke. Thus far, the bill has passed the Senate and various committees in the Assembly on strict party lines. If the bill does pass the Assembly floor, it would go back to the Senate for concurrence, and then to the governor's desk to be signed. Van Dyke said he did not know which windfall profits tax bill was more likely to pass out of both houses before the legislature adjourns, nor whether the two might be cobbled together to form one bill. "Our bill is two steps from going to the governor; the other bill has a ways to go," Van Dyke said. "Sometimes two bills on the same issue will pass and go all the way to the governor, and it's up to him to choose." A spokesman for Gov. Gray Davis said last week that he was open to a windfall profits tax bill, but would not indicate which bill he might prefer.
Robert, Absolutely. This is a critical situation. Vince Robert Johnston 01/16/2001 08:02 AM To: Vince J Kaminski/HOU/ECT@ECT cc: Scott Tholan/Corp/Enron@Enron Subject: California Power 1/15/01 Vince- Kristin mentioned that you might be interested in receiving our daily updates on the California situation. Hope that you are doing well and let us know if you require any additional information. RJ ---------------------- Forwarded by Robert Johnston/HOU/ECT on 01/16/2001 08:08 AM --------------------------- Robert Johnston 01/15/2001 09:10 PM To: Michelle D Cisneros/HOU/ECT@ECT cc: Gary Hickerson/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Jaime Gualy/NA/Enron@Enron, John Greene/LON/ECT@ECT, Jeff Kinneman/HOU/ECT@ECT, Kristin Walsh/HOU/ECT@ECT, Scott Tholan/Corp/Enron@Enron Subject: California Power 1/15/01 As talks continued toward the Tuesday deadline markets have been focused on for the California electricity crisis, state officials around Governor Gray Davis have toughened up their rhetoric on a couple of fronts even as they confirmed they would be in the market as early as Tuesday taking bids for energy to be paid by the State of California. One problem on that front is still how much producers want to charge the state for electricity. As we reported last week, Davis and his aides want to pay around $50 to $55 dollars per megawatt hour and suppliers want about $75. Treasury Secretary Summers has suggested an auction as the best way to determine the price, but California officials are taking a less free market approach and still hope to set the price through negotiation over long-term contracts. Our sources in Washington, Sacramento, and California are increasingly of the view that Governor Davis is positioning his government to establish long-term power contracts with the generators that could be passed through to the utilities following a bankruptcy in the near term. This week's legislative activities in Sacramento will create the vehicle to do so. State credit backing purchases of power would obviate the need for super-priority borrowing to finance power purchases after utility bankruptcy. 1. Audit- Untangling Utility Relationships California officials have also toughened their rhetoric on the debt repayment front as they say results from a preliminary audit show that half of the $9 to $12 billion the utilities say they owe is actually owed to themselves for power they bought from their corporate relations This strange situation is due to the fact that one holding company owns both the power-generating and power-distributing companies under a holding company umbrella. Of course, that means that some of the power PG&E and Southern California Edison bought at highly inflated prices was bought from themselves. But it was not all bad news in the tense negotiations. Sources confirm that Davis increasingly understood that the state finance role was a crucial part of any potential solution. He told our sources this afternoon that he is willing to use state credit to eliminate the "risky debt" premium that PG&E and SCE are being charged by suppliers because of their shaky finances and that he is willing to extend the current 10% rate increase utility customers are paying far beyond the initial 90-day deadline. In return he is demanding that the companies prepare to "share the burden of debt reduction in return for state help and credit extension." 2. Debt Restructuring- Guarantees, but No Direct State Money Davis also told the videoconference that he believes the $12 billion in back debt owed by the utility companies can be cleared up during a 90-day forbearance period (whether that period has been agreed to by all creditors is not something we are clear about right now). Davis' idea, as he laid it out in the meeting, is to use the forbearance period to securitize the debts and sell them against the utilities' forward rate base or by establishing a medium-term repayment plan backed by continued state guarantees. In both cases the restructured debt would be resolved over a decade without direct use of taxpayer money as the utilities use their positive margins to paydown their debt. One of the reasons Davis wants to stay close to the $50-$55 megawatt charge is that it maximizes the rate at which utilities can pay down this debt. There is a strong chance that Davis will agree to use state guarantees to sweeten the pot at the end of these negotiations, but he remains opposed to using direct state money. This frustrates both Clinton administration and utility creditors, but Davis has not yet shown much flexibility. 3. Eminent Domain/Reregulation Perhaps most frustrating to the Washington DC free market crowd at Treasury and the White House was the continued comfort Davis and his group of political advisers have with "non-market" solutions to the energy crisis. Although the Governor's aides actually believe the weapon is more a "way to force eventual agreement, than an actual solution," the talk returns frequently to these non-market mechanisms. "We have the ultimate weapon to enforce compliance by the Tuesday deadline. If we make no progress. If this thing looks like it will turn into a genuine crisis, then we will use our powers of condemnation and we will re-take the plants and equipment and run them ourselves," a close political aide to Davis said. "We will absorb the plants, the transmission lines and the reserved parking places of the executives. The legislature would agree in a second."
I feel awful about that--particularly since PGT did the same thing! df Steven Harris 02/01/2001 11:58 AM To: Drew Fossum/ET&S/Enron@ENRON cc: Subject: Daily California Update..... FYI. You should be ashamed asking PG&E to pay us up front for demand charges. Apparently, California feels we are "predators"! ---------------------- Forwarded by Steven Harris/ET&S/Enron on 02/01/2001 11:57 AM --------------------------- From: Lorna Brennan/ENRON@enronXgate on 02/01/2001 10:16 AM To: Lindy Donoho/ET&S/Enron@ENRON, Jeffery Fawcett/ET&S/Enron@ENRON, Kevin Hyatt/ET&S/Enron@Enron, Lorraine Lindberg/ET&S/Enron@ENRON, TK Lohman/ET&S/Enron@ENRON, Michelle Lokay/ET&S/Enron@Enron, Lee Huber/ET&S/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON, Steven Harris/ET&S/Enron@ENRON cc: Subject: Daily California Update..... CPUC Votes to Keep Gas Flowing A special session yesterday of California's regulators gave PG&E's utility authority to amend its gas supply deals to keep supplies flowing to the state past Feb. 7 when the current federal DOE emergency order expires, but it postponed action on another PG&E request that Southern California Gas Co. --- which has strongly objected --- be compelled to provide emergency supplies to the PG&E utility's residential and small business customers. Loretta Lynch, president of the California Public Utilities Commission, said PG&E's utility is a "victim --- a victim of circumstances and a victim of predatory practices by natural gas suppliers," now demanding payment for future supplies up front --- not because the utility has failed to pay its past gas bills, but because the electricity crisis has sapped its credit-worthiness. The CPUC action allows PG&E's utility to offer suppliers the option of securitization or, in effect, a lien, in the utility's retail customers' bills which cover the full cost of the wholesale gas prices as an incentive to have the suppliers extend contracts with PG&E's gas utility operations while the credit-worthiness of the company itself is dubious. It won't be until next week when the utility begins negotiating new contracts, that it will know if the CPUC action will overcome the suppliers reluctance to extend contracts in the current situation, according to PG&E gas utility spokesperson Staci Homrig. On the operational side, PG&E on Wednesday declared a low-inventory OFO because of a cold snap causing more supplies to be burned then pipeline shippers were bringing into the system. The action was thought to help cause the PG&E citygate price to jump from $11 to $17 on Wednesday. As for reports of low storage, Homrig said that while the utility's supplies are very low, they are adequate for the next week. They are not dipping into cushion or base gas at this point, Homrig said. Lynch said that PG&E has not defaulted on any payments, but nevertheless, in what she considers predatory practices, the suppliers have required advance payments or payment at the time supplies are provided. "These gas suppliers are taking advantage of an emergency situation to extract another pound of flesh," Lynch said in voting for the securitization measure. "Suppliers who have been paid when due, are now saying regardless of existing agreements 'pay us today.' They are doing this in the coldest time of the year, so the commissioners have to take these difficult steps to allow PG&E amend these agreements in order to keep the gas flowing." Part of the CPUC's action places a 90-day limit on the securitization option, so with the way gas contracts work, in effect, it only provides about another 30 days' worth of supplies, said Homrig, who noted that almost all of PG&E's 25 to 30 suppliers have asked for special payment arrangements (advances, cash-on-delivery or letters of credit) that the company cannot accommodate because of its cash-flow crisis.~ Out of ongoing negotiations, the parties came up with the securitization proposal in the customer account receivables, thus, assuring them they will get paid. On the gas side, PG&E has had sufficient revenues --- unlike its electric business --- but the suppliers have not wanted to let the utility stick to a normal payment arrangement because of the severe credit-rating decline in the past weeks. The CPUC met in San Francisco late Wednesday afternoon in the midst of a whirlwind day of public announcements from the governor, state legislature, consumer groups, regulators and utilities. A key piece was missing, however. California state legislative leaders called off a morning briefing that was to have offered the latest legislative proposals for dealing with the energy crisis. Reportedly sticking points remain centered on the key questions of who pays for the solutions and how deeply the state gets into the energy business. A spokesman for the assembly speaker's office said he had no idea when the briefing would be re-scheduled. One piece of legislation that got through the state Senate (SB 1X) yesterday authorizes another $500 million in emergency funds to purchase power. It also would allow the state water resources department to be the utilities' wholesale power supplier under long-term contracts at least through 2002. The measure drew a protest from CPUC Commissioner Richard Bilas, who argued that the state agency be "removed from that role as quickly as possible." The bill, which was first passed by the state Assembly, was returned to assembly committees last night to iron out changes made in the senate. It then would have to be ratified again by the Assembly. Meanwhile, consumer activists held rallies around the state protesting the state bail-out of the private-sector utilities. This prompted at least one of the utilities, Southern California Edison, to come out swinging, saying that the recently released results of utility financial audits do not show any "windfall profits" or diversion of monies from the utilities to the parent company. A letter surfaced in Washington from Gov. Gray Davis to the Senate Energy and Natural Resources Committee, dated Jan. 30 and outlining measures the state is taking to increase energy supply and decrease demand, sign long-term contracts and maintain the financial viability of the state's public utilities. The letter, a catalogue of recent initiatives already reported here, contained no specifics on any long-term contracts nor legislation signed that would address the immediate problem. Davis outlined measures being taken to speed up siting of new power plants, saying an additional 2,000 MW would be online by the end of the year. Responding to questions on another arena, Edison International's senior vice president Tom Higgins said "everything is on the table" in the ongoing negotiations between Davis' three-person negotiating team and the two utilities, including dropping the pending lawsuit in federal court in Los Angeles and crediting excess revenues from the utilities' own generation against the whopping wholesale power cost under-collections. The state remained under a power watch for the 16th day as the California independent grid operator (Cal-ISO) urged conservation because "reserves remain very low."
It looks like the Brazilian tax situation will be even more problematic than in Argentina. ---------------------- Forwarded by Brent Hendry/ENRON_DEVELOPMENT on 01/05/99 09:30 AM --------------------------- Scott Neal 12/30/98 05:02 PM To: Don Black/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Scott Porter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, William O Butler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Re: Brazilian Transaction Taxes FYI. ---------------------- Forwarded by Scott Neal/ENRON_DEVELOPMENT on 12/30/98 02:01 PM --------------------------- Beth Rosen 12/30/98 01:07 PM To: Scott Neal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Jordan Mintz/HOU/ECT@ECT Subject: Re: Brazilian Transaction Taxes Scott: I have provided some comments below in response to your questions regarding Brazil trading activities. About a year ago, Jordan and I went with Brent and others to Sao Paulo to do some preliminary due diligence on Brazil trading issues. At that time there were a number of open issues regarding the legal, regulatory and commercial aspects of conducting trading activities in Brazil that would effect our planning. For example, it was not known whether a Brazil trading office would be considered a financial institution, an important characterization as financial institutions are subject to a different tax regime. In any event, the following should give you a flavor of the regime. I am also sending you under separate cover some general information regarding doing business in brazil: Brazil imposes two gross receipts taxes called Pis and Cofins. The Pis rate is 0.65% and the Cofins rates has just increased from 2% to 3% effective February 1, 1999. Pis/Cofins operate like the Argentine turnover taxes except that Pis/Cofins are federal taxes as compared to Argentina's turnover taxes which are assessed at the provincial level. Strictly speaking, Brazil law considers amounts paid for Pis/Cofins to be "social contributions" and not taxes as the funds are earmarked for certain social welfare programs. As a result, the Pis/Cofins are considered "sacred" and except as outlined below, there are no exemptions or opportunities to avoid payment of Pis/Cofins. There are only two exceptions to the payment of Pis/Cofins. First, export sales by Brazilian companies are not subject to gross receipts taxes. The second exemption is that charitable foundations are exempt from Pis and Cofins. Prior to Brazil's recently introduced tax reform package, financial institutions paid a higher rate of income tax but were exempt from the Cofins tax (Pis was still due). Now, financial institutions must pay Cofins. To mitigate the cascading effect of Pis/Cofins in some of our power project under development, we have looked at, but not implemented, forming consortiums with some of our suppliers (gas suppliers). Under this scenario, a portion of the energy payment is allocated to each supplier who is taxable only on the portion of the tariff to which he contributed. A consortium is a legal arrangement that applies to a specific transaction and specific customers. It may not be compatible in the context of a trading office. Brazil has a value added tax regime which is administered by each state. There can be mismatches between VAT paid and collected depending on the particular jurisdiction in which a commodity is bought and resold. The VAT regimes differs for gas and power trading so we would have to analyze each specific transaction in order to evaluation whether VAT would represent a cost to the Brazil tradeco. I am sending to you some information provided by Arthur Andersen which describes the VAT on sales and re-sales of gas and electricity under several scenarios, I am also checking on whether Brazil imposes any energy specific taxes and will follow up you separately on this issue. Regards and all the best in 1999. Beth To: Beth Rosen/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Brazilan Transaction Taxes Beth: I think we have a pretty good handle on these issues with respect to the Pis/Cofins--not pretty and, in fact, a worse scenario than we face in Argentina. Would you communicate to Scott. Thanks. Jordan PS-I must have just missed you today to run-I'm so sorry I couldn't make it, but it was for a very valid reason. ---------------------- Forwarded by Jordan Mintz/HOU/ECT on 12/16/98 12:15 PM --------------------------- From: Scott Neal AT ENRON_DEVELOPMENT@CCMAIL on 12/16/98 02:38 PM To: Jordan Mintz@ECT, Beth Rosen AT ENRON_DEVELOPMENT@CCMAIL cc: Yao Apasu@ECT, "Don Black/ENRON_DEVELOPMENT" AT ENRON_DEVELOPMENT@CCMAIL, Scott Porter AT ENRON_DEVELOPMENT@CCMAIL, Brett R Wiggs AT ENRON_DEVELOPMENT@CCMAIL, "Steve Pearlman/ENRON_DEVELOPMENT" AT ENRON_DEVELOPMENT@CCMAIL, Randy Young AT ENRON_DEVELOPMENT@CCMAIL, Brent Hendry AT ENRON_DEVELOPMENT@CCMAIL Subject: Brazilan Transaction Taxes Can you give us a briefing on Brazilian transaction taxes? My initial feeling is that we are going face tax issues similar to those we are dealing with in Argentina. We have several deal makers in Sao Paulo that have begun contact potential customers. I think it is important to start the education process now for all of us so that we can 1) determine ways to structure deals to limit tax liability and 2) form a strategy to lobby for changes/reform/exemption. Some initial questions: How are marketing/trading companies activities treated? Are there any energy specific taxes? If turnover/gross receipt tax are applicable, is there any special treatment for trading companies? Are transaction taxes federal, state, or local in nature? Thanks for your help.
FERC extends $1,000 price cap on NY ISO power Dow Jones Interactive October 24, 2001 Creating chaos out of order ; Power play: Federal order to merge electric transmission grids will hurt Maryland consumers. Dow Jones Interactive October 24, 2001 Calif Resells Surplus Power At A Loss In Second Quarter Dow Jones Interactive October 24, 2001 FERC extends $1,000 price cap on NY ISO power WASHINGTON, Oct 24 (Reuters) - The U.S. Federal Energy Regulatory Commission on Wednesday agreed to extend a price cap of $1,000 per megawatt hour for wholesale electricity bids handled by the New York Independent System Operator. The New York ISO asked FERC to approve an extension through April 30, 2002, for the price cap, which first went into effect in July of last year. However, FERC said it expected power supplies in New York City and Long Island to remain tight through the summer of 2002. The ISO would likely request another bid cap extension at that time. Therefore, FERC said the price cap will last as an interim measure until the new Northeast Regional Transmission Organization is up and running. "We believe that our decision ... will promote price certainty and market participants' confidence in the New York ISO-administered markets, which will increase supply, improve reliability and ... lower energy prices," the agency said in its order. The New York ISO operates one of the nation's biggest wholesale electric markets with billions of dollars in transactions. The $1,000 price cap was first adopted to control market manipulation and prevent artificially inflated prices. The cap is supported by several large utilities, such as Consolidated Edison Inc. , which were concerned about high wholesale power prices that occurred after the New York ISO took control of the state's power grid. FERC aims to create four huge Regional Transmission Organizations to replace the New York ISO and similar groups in managing the nation's power grid. Federal regulators see the RTOs as a way to avoid a repeat of the power crisis in California last winter, in which the antiquated U.S. grid prevented more power from flowing into the state. Under FERC's plan, the RTOs would be for-profit groups in the U.S. Northeast, Midwest, Southeast and West. Each region would combine public utility transmission facilities to provide open access, more reliable power and lower rates for consumers. However, some utilities have been hesitant to join an RTO because they will some lose control over the rates they charge other companies to use their power lines. Creating chaos out of order ; Power play: Federal order to merge electric transmission grids will hurt Maryland consumers. USING scare and bully tactics, the federal government is trying to force Maryland electricity consumers into paying higher prices for less reliable service and less local control. That's the outlook for the Federal Energy Regulatory Commission's plan to create four new large regional power transmission groups to manage the nation's electric grid. The efficient, stable, economical PJM Interconnection grid system that's taken over 70 years to refine would be twisted and subverted to serve the needs of high-cost New York. Maryland's carefully crafted deregulation plan to benefit consumers and utilities is also threatened by the FERC order to create a Northeast regional transmission organization within three years. Challenges by Maryland, Virginia and Washington to the federal agency's mandate have been ignored. So have protests from Vermont and New Hampshire. Curiously, FERC cited the PJM network, which includes Maryland, as a model for the nation. Then it ordered a hasty merger of PJM with less able New York and New England systems. Warning of California -type energy problems for the rest of the nation, FERC has pressed its theory that bigger is always better. It ignores the fact that California is the largest U.S. electric market and still failed due to arrogant mismanagement. Some opposition to the FERC plan is based on loss of control by state regulators and existing regional systems. States opposed to deregulation fear the plan will force that change on them. Even within PJM, which serves five states and Washington, members hold differing positions on forming mega-regional networks. But PJM is the largest competitive wholesale power market in the world and has served its 22 million customers well. There's little benefit and a lot of risk in forcing it into a shotgun marriage with less capable Northeastern partners. Calif Resells Surplus Power At A Loss In Second Quarter LOS ANGELES -(Dow Jones)- The California agency buying power in lieu of the state's ailing utilities resold electricity in the spot market during the second quarter at an average price of $45 a megawatt-hour, the agency said Wednesday. The announcement by the California Department of Water Resources was an answer to critics who blasted the department this summer for having to resell surplus power for as little as $1 a megawatt-hour because it secured too much electricity under long-term contracts negotiated by the administration of Gov. Gray Davis, the department said. In a press release, the department's California Energy Resources Scheduling division, its power-marketing arm, said it resold 224,871 megawatt-hours, or 1.1% of its total purchases. That power generally was first bought on the spot market or through monthly or quarterly contracts, not the long-term contracts, the department said. Such sales are typical of any power-buying operation, as demand for electricity can vary in unpredictable ways, the department said. The DWR is responsible for buying all the power needed by the customers of the state's three main utilities beyond what the utilities generate themselves or have secured under their own long-term contracts - or about one-third of the total. According to the DWR, power secured under Davis' long-term contracts covers one-third to one-half of the electricity it must supply. Short-term deals, such as monthly or quarterly contracts, represent one-third of the portfolio. The rest is bought in the spot market. The state has put its average cost of power under the long-term contracts at 7.9 cents per kilowatt-hour for the first five years and 6.9 cents per kilowatt-hour for the next five years. Davis has taken heat for locking up too much electricity at high prices. Similarly, the Department of Water Resources has been criticized for amateurish purchasing practices. The DWR releases information on its power transactions quarterly to protect its negotiating position, the department said. The DWR buys power for customers of PG&E Corp. (PCG) unit Pacific Gas & Electric, Edison International (EIX) unit Southern California Edison and Sempra Energy (SRE) unit San Diego Gas & Electric.
do you want the ticket? i got this ticket from a broker - it is going for like $600 now call me @800-97ENRON or 713-853-0977 and let me know -----Original Message----- From: Luis Mena [mailto:luismena@yahoo.com] Sent: Tuesday, October 02, 2001 2:13 PM To: Bass, Eric Subject: RE: FW: True Orange E-Mail/Fax #98 i bought a plane ticket last night. i was waiting to make sure that texas and ou were undefeated to buy it. what sucks is that the tickets to dallas were like 600 dollars and to austin were 190 so i'm going to austin friday morning and driving up with all my friends. the drive there is great but the drive back sucks kak. --- "Bass, Eric" <Eric.Bass@ENRON.com> wrote: > ive got a 50 yd line seat for the game this weekend > with your name on it > pal! > what do you think? > > -----Original Message----- > From: Luis Mena [mailto:luismena@yahoo.com] > Sent: Tuesday, October 02, 2001 2:07 PM > To: nick schuneman; Bass, Eric; Elias Lira; Italo > Zarate > Subject: Fwd: FW: True Orange E-Mail/Fax #98 > > > > --- "Graf, Dustin KWP" <dgraf@KennedyWilson.com> > wrote: > > From: "Graf, Dustin KWP" <dgraf@KennedyWilson.com> > > To: "Boykin, Michael KWP" > > <mBoykin@KennedyWilson.com>, "Oddo, Chris KWP" > > <coddo@KennedyWilson.com>, "Gamel, Chris KWP" > > <cgamel@KennedyWilson.com>, > > 'Adam Turner' <aturner75@hotmail.com>, 'Luis > Mena' > > <luismena@yahoo.com>, > > "'ryan.wisnieski@accenture.com'" > > <ryan.wisnieski@accenture.com>, > > "'Ryan_Franks@Dell.com'" <Ryan_Franks@Dell.com>, > > "'Tucker, Michael'" > > <michael.tucker@gwl.com>, > "'vetter1975@yahoo.com'" > > <vetter1975@yahoo.com>, "Humphrey, Randy KWP" > > <rhumphrey@KennedyWilson.com>, "Eller, Steven D. > > KWP" > > <SELLER@KennedyWilson.com> > > Subject: FW: True Orange E-Mail/Fax #98 > > Date: Tue, 2 Oct 2001 11:13:35 -0700 > > > > > > -----Original Message----- > > From: Jeff Boldrick > [mailto:jboldrick@deloitte.com] > > Sent: Tuesday, October 02, 2001 9:57 AM > > To: 'betamu@topica.com' > > Subject: FW: True Orange E-Mail/Fax #98 > > > > > > > > > > > > Jeffrey D. Boldrick > > Business Development Coordinator - SE Region > > Deloitte & Touche LLP > > (404) 220-1084 > > > > -----Original Message----- > > From: TruOrange@aol.com [ mailto:TruOrange@aol.com > > <mailto:TruOrange@aol.com> ] > > Sent: Monday, October 01, 2001 10:12 PM > > To: TruOrange@aol.com > > Subject: True Orange E-Mail/Fax #98 > > > > True Orange E-Mail/Fax Service > > Volume 9, E-Mail/Fax #98, Monday, October 1, 2001 > > Jerry Scarbrough's True Orange, P. O. Box 26530, > > Austin, Texas 78755 - Phone > > > > 512-795-8536 > > > > Horns Favored by 3 Over Sooners; Game at OSU Set > for > > 11:30 A.M. on Fox TV > > > > Texas is favored by three points over Oklahoma for > > their 2:30 p.m. showdown > > in the Cotton Bowl Saturday. I was amazed when I > > looked at five Las Vegas > > lines and saw all of them had the Longhorns as the > > favorite. Oklahoma is the > > > > defending national champion, has a higher ranking, > > has the nation's longest > > winning streak and I don't want to even get into > how > > bad they put it on the > > Horns last year. > > Let's hope the bookies know something. I think it > > will be a great game and I > > > > think the Longhorns have a great chance to win, > but > > I can't see making the > > Horns a pre-game favorite. > > A big key will be to hang tough early. When the > > Longhorns won in 1999, they > > had to overcome an early 17-0 Oklahoma lead. In > last > > year's blowout, the > > Sooners also jumped out to a big early lead and > they > > kept on pouring it on. > > Texas has a big offensive line and a big running > > back and the Longhorns > > might > > be able to wear Oklahoma's defense down if the > > Horns can be physical for > > four quarters. That's what Kansas State did last > > week and the Wildcats came > > back from a 35-14 deficit and almost pulled it > out. > > Texas needs to avoid falling behind and then try > to > > pull away in the late > > stages because Oklahoma is pretty thin in the > > defensive line. The starters > > are very good, but the backups are untested. > > * * * * > > Coach Mack Brown, a former assistant coach at > > Oklahoma, had a funny story to > > > > tell at his Monday press conference. He said when > he > > took the job at > > Oklahoma, he asked Sooner coach Barry Switzer who > OU > > had to beat to keep the > > > > coaches from getting fired. He said Switzer said > > Texas. He said he asked > > about the Big 8 foes, such as Nebraska, and > Switzer > > repeated, "Texas." > > When he came to Texas as the head coach, he said > he > > asked some of the top > > Longhorns who he needed to beat to keep his job. > > "Everybody," he said they > > replied. He said he thought they were joking and > > smiled at them, "but they > > didn't smile back." > > * * * * > > The Longhorns' game at Oklahoma State next weekend > > will have an 11:30 a.m. > > kickoff and will be the Fox Syndication Big 12 > Game > > of the Week. If you live > > > > in Texas or Oklahoma and in most other states, you > > should be able to get the > > > > game, but check with your cable company to make > > sure. > > * * * * > > RECRUITING NOTES: Nine of the recruits on my > 25-man > > "difference-maker" list > > > > have committed, and Texas leads the way with five > > pledges. The future > > Longhorns are No. 4 DT Earl Anderson of San > Marcos, > > No. 11 LB Garnett Smith > > > > of Arlington Lamar, No. 17 LB Brian Robison of > > Splendora, No. 23. OL Brett > > Valdez of Brownwood and No. 24 QB Billy Don Malone > > of Paris North Lamar. A&M > > > > is next with two pledges from No. 10 Athlete > Reggie > > McNeal of Lufkin and No. > > > > 20. Athlete L'Tydrick Riley of Crockett. The other > > two on the list who are > > committed are No. 18 Center Bob Morton of McKinney > > to Notre Dame and No. 25 > > CB Michael Hawkins of Carrollton Turner to > Oklahoma. > > The Longhorns also have > > > > great shots at No. 1 DT Rodrique Wright of Alief > > Hastings, No. 2 QB Vincent > > Young of Houston Madison, No. 3 DE Larry Dibbles > of > > Lancaster, No. 6 RB > > Albert Hardy of Galena Park, No. 7 MLB Aaron > Harris > > of North Mesquite, No. > > 13 > > OL Justin Blalock of Plano East and No. 14 DT > Marco > > Martin of Mesquite. They > > > > also have fair shots at No. 5 DE Travis Leitko of > > The Woodlands, No. 8 > > Athlete Edorian McCullolugh of North Garland, No. > 12 > > TE Eric Winston of > > Midland Lee, No. 19 CB Ricky Wilson of Port Arthur > > Lincoln and No. 22 > > Athlete > > DaBryan Blanton of Forney. That leaves only four > of > === message truncated === __________________________________________________ Do You Yahoo!? Listen to your Yahoo! Mail messages from any phone. http://phone.yahoo.com
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/31/2000 04:08 PM --------------------------- Tanuja Tulsiani <ttulsi@IIRLTD.CO.UK> on 03/30/2000 04:39:22 AM To: Ttulsi@IIRLTD.CO.UK cc: Subject: Energy in Europe Congress 2000 Dear Energy in Europe Congress Delegate ENERGY IN EUROPE CONGRESS 2000 19th June * 22th June 2000 * Kempinski Hotel , Berlin I am delighted that you will be joining us to speak at our Energy in Europe2000 conference (formally known as Electricity in Europe Congress) and enclose copies of the printed brochure for you and your colleagues. I hope that you will agree that the programme looks excellent and the response so far indicates that the event will be extremely well attended. I would be grateful if you could just take a moment to look through the items we would like from you prior to the conference to help ensure everything runs smoothly on the day. Your Administration/Preparation Details 12 weeks to go! You will find attached: ? PINK FORM : please tick and fill in and fax back immediately ? HOTEL FORM: please tick and fill in and fax direct to the hotel ? MARKETING.DOC: Information for out marketing department, please fill in and send back as soon as possible Friday 26th May 2000 : A Hard Copy Of Your Documentation 3 weeks to go! ? We would like a hard black & white copy of your presentation / bullet points/copy of slides whichever is best for you, to insert into the delegate documentation. We can receive this by post or email if the documents are not too complex but we try not to insert fax copies as copy quality is poor. (e-mail address - ttulsi@icbi.co.uk). N.B. Even if you plan to speak off the cuff, we would urge that you submit at least an outline of your speech to us for insertion into the delegate pack by the above date. The most consistent complaint that we have from delegates is that not all speakers offer hard copies of their presentation. ? If you are unable to make this deadline, please could you inform us as soon as possible so that we can make alternative arrangements and avoid printing delay. Under separate cover we have arranged for five brochures to be sent to you outlining the full programme. These should arrive very shortly. Should you have any queries regarding your participation at the conference please contact Tanuja Tulsiani, our Logistics Manager who will be looking after the 'domestic' side of the event. You can call her direct on (44) 171 915 5173 or do contact myself. Thank you once again for joining us and I look forward to seeing you in the Berlin. With kind regards, Alexandra Howells Director Energy in Europe Congress 2000 - hotel form.doc - Pink form.doc - marketing.doc
-----Original Message----- From: Mims, Patrice L. Sent: Monday, August 20, 2001 1:42 PM To: Pollan, Sylvia S. Subject: FW: NEW ENRONONLINE FUNCTIONALITY -----Original Message----- From: Puthigai, Savita Sent: Friday, August 17, 2001 3:47 PM To: EOL Non North America Traders; EOL North America Traders Cc: EOL Call Center; EOL Marketing Europe; EOL Product Control Group, Enron Sydney; Product Control - Houston; Webb, Jay; Richter, Brad; Enron London - EOL Product Control Group,; Carter, Carl; Pacheco, Leonardo; Renaud, Lindsay; Gonzales, Francis; Mandola, Teresa Subject: NEW ENRONONLINE FUNCTIONALITY In order to continually develop and make improvements to the functionality of EnronOnline we are rolling out several changes tonight, which will be in effect on Monday August 20, 2001. Some of these changes will affect Stack Manager while others affect the Website. A summary of these changes is listed below. Stack Manager Changes Top of Stack limit orders - This feature will allow the price submitted via limit orders to be displayed on the website if their bid or offer is better than the trader's stack price. Stack Manger will list the price and the names of counterparties submitting such orders on the floated stack window. Orders will be queued by price and time stamp. When a counterparty trades on a " Top of Stack Entry" it will create back to back transactions; one between Enron and the counterparty submitting the order, and the other between Enron and the counterparty clicking on the website. In order to turn on this functionality select the " Allowed Top of Stack" option, in the Orders section of the product properties page. If regular limit order functionality is desired the "Allowed" option should be selected. Please note that this feature will be released in a disabled mode and will be turned on sometime next week after determining which business units want to roll this out. Restricted Top of Stack limit orders - This feature will allow the price submitted only by internal traders via limit orders to be displayed on the website if their bid or offer is better than the trader's stack price. Stack Manger will list price and the names of counterparties submitting such orders on the floated stack window. Orders will be queued by price and time stamp. When a counterparty trades on a " Top of Stack Entry" it will create back to back transactions one between Enron and the counterparty submitting the order, and the other between Enron and the counterparty clicking on the website. In order to turn on this functionality select the " allowed as Restricted Top of Stack" option, in the Orders section of the product properties page. If regular limit order functionality is desired the "Allowed" option should be selected. If a product has active orders against it you will not be able to select the "Restricted Top of Stack" feature. Advanced Filtering Ability on All Products Tab - Drop down filtering capability is now available for each field in the All Products tab in stack manager. In order to filter click on the arrow next to the field title. A drop down box with a list of attributes will appear. Highlight the attribute by which you wish to filter. To turn off the filter click on the arrow and select the " All" option from the drop down box. Website Changes New Submission Screen for Restricted Top of Stack Limit Orders - The submission screen for products that allow Top of Stack or Restricted Top of Stack limit orders is as follows. The submit button on the left makes a submission for a normal transaction, while the button on the right will submit as a limit order. In case of the Restricted Top of Stack limit orders only internal traders will see the new submission box. Price of Limit Orders Modify Limit Orders Customers now have the ability to modify the price of any active order. In order to do so highlight the order to be modified and use the plus or minus sign next to the price field on at the top of the "Today's Orders" section. The price will move up or down in the same increments as the tick size for that product. Once the price is at the desired level click the "Set" button and the price will be modified. Another way to modify the price on a limit order is to click on the price field on a particular limit order. You will see a box with plus, minus and set buttons that allow you to modify that order. Expiration time for Limit Orders Customers can now place limit orders with expiration times of up to 30 days. Currently they may place orders for only up to 12 hours. Float the Today's Orders Section You can now float the " Limit Order " section. In order to do so, right click in the "Today's Orders " section and select the float window option. In order to make the window " Stay On Top " right click on the floated window and select the stay on top option. Mid Market Client - Mid market originators will now have the ability to transact on behalf of their customers, while including their desired margin on the trade, on EnronOnline products. In order to do so Click on the bid or offer price, a customised submission window will appear. Select the counterparty for whom you wish to transact from a drop down list , enter the desired customer price and margin and click submit. For example if a customer wants to buy Nymex Sep 01 at 3.36 and you wish to have a 1 cent margin, please enter 3.36 as the desired price and 0.01 as the margin. The system will trade the order when the EnronOnline offer for Nymex Sep 01 is at 3.35, book the trade at 3.36 and record the 0.01 origination amount. In order to be set up to use this functionality. Please call the EnronOnline Product Control Group. Changes to Website Passwords - As an added security measure, which has been requested by many customers, some new password rules have been instituted. First, the password cannot be equal to the login ID. Second, each user will be prompted to change his password every 90 days. These rules apply to all website passwords for both internal and external users. Please note Stack Manager changes will be available all traders as of Monday August 20, 2001. The changes to the website will be rolled out to a few internal users on Monday with the rest of the internal users being upgraded Monday night, and external users by the end of the week. Over the next couple of weeks all users will be prompted to change their website passwords. If you have any questions regarding these changes please contact me at 713-853-1787. Savita Puthigai <Embedded Paintbrush Picture>
---------------------- Forwarded by David M Gagliardi/TTG/HouInd on 08/31/2000 01:38 PM --------------------------- "Michael Gagliardi" <mggagliardi@duke-energy.com> on 08/31/2000 01:10:56 PM To: DGagliardi@reliantenergy.com, David_Ricks@GSDM.com, Tony.A.Rogers@fritolay.com cc: Subject: True Orange Fax/E-Mail #81 ---------------------- Forwarded by Michael Gagliardi/Hou-ComOps/EnergyTrading/PEC on 08/31/2000 01:19 PM --------------------------- TruOrange@aol.com on 08/31/2000 12:30:43 PM To: TruOrange@aol.com cc: (bcc: Michael Gagliardi/Hou-ComOps/EnergyTrading/PEC) Subject: True Orange Fax/E-Mail #81 Several of you sent me e-mails saying you did not get last night's scrimmage report e-mail, so here it is again for everybody. If you already have it, sorry for gumming up your mail box. Jerry True Orange Fax/E-Mail Service Volume 8, Fax/E-Mail #81, Wednesday, August 30, 2000 Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 - Phone 512-795-8536 Horns Have Final Public Scrimmage Before Huge Crowd Coach Mack Brown put the Longhorns through a short, but spirited scrimmage Wednesday night in Royal Memorial Stadium before an enthusiastic crowd UT officials estimated at about 7,500. With the first-team defense sitting out most of the scrimmage, the offenses dominated most of the way. Chris Simms hit 5 of 8 passes for 144 yards, including a 5-yard touchdown pass to freshman sensation Roy Williams, who had set up the score with a great catch of a 50-yard Simms' throw, and a 67-yard TD pass to WR Montrell Flowers off a fake reverse. The first-team offense also scored on a two-yard run by TB Victor Ike, after starting TB Hodges Mitchell set it up with a 50-yard gallop. But QB Major Applewhite led the second-team offense to two touchdowns, hitting 10 of 13 for 173 yards, including scoring tosses of 70 yards to the other sensational freshman WR, B. J. Johnson, and 15 yards to senior Brandon Healy. Applewhite's TD pass to Johnson was a short screen up the middle and Johnson just ran away from all the pursuit. Starting safety Greg Brown intercepted one of Applewhite's throws on the second-team's first possession. Brown still wouldn't give any hint about who will be his starting QB in the season opener next week, but did say both QBs played well. Brown also said, "I was really pleased with the wide receivers. I thought they made some steps in running better routes and making the tough catches." He also said Ike is clearly the No. 2 TB behind Mitchell at this point. Redshirt freshman Ivan Williams had a great spring, but has not been dominating during the current practices. He also has had some nagging injuries. Brown said Ike, the fastest of the tailbacks, has been doing well in practice. "Victor has been doing the best since he's been here," Brown said. "He is doing much better without the ball (blocking) than he has in the past." * * * * Defensive coordinator Carl Reese, who has nine starters back, says he is feeling better about his new defensive ends. "I've got four guys I think can play," Reese said. "Cory Redding and Jermain Anderson are the starters, and Kaelen Thornton has really been doing a good job. He just keeps getting better, so he'll be the first backup for Anderson, and Cole Pittman has had three solid scrimmages in a row, so he'll be the guy behind Redding. I think all four of them will play a lot, and they're the four main ones right now." Thornton, a true freshman, is one of the larger DEs at about 6-3, 270, but Reese said he is "pretty quick out there. He gets a good rush from the edge, and that's what we like. He also is learning to do a better job against the run." He said Pittman, who was moved over from tackle to provide better run support, "has been doing a good job against the run, and he's a pretty good pass rusher, too. I think we'll be okay with those four guys as soon as they get a little more experience." * * * * Brown said the team will have one more open practice and it will be Thursday at 3:30 at Denius Field. Then he plans to give the team three days off to try to let the players recover from the grueling two-a-day workouts. The team will go back to work Monday to get ready for the Saturday opener at 11:30 a.m. against Louisiana-Lafayette. * * * * INJURY UPDATE: Brown said OT Mike Williams suffered a twisted leg in the scrimmage, but he said he didn't think it was serious. * * * * RECRUITING NOTES: The Longhorns still have 13 commitments. DE Eric Hall, 6-3, 225, 4.5, of Clarksville, Tenn., who will take his official visit to Texas the Sept, 9 weekend, rushed 10 times for 102 yards and completed 5 of 7 passes for 106 yards and two TDs to lead his team to a 34-0 victory over Springfield Friday in the season opener for both teams. He plays QB and safety, but said he didn't play any defense after the first half. . . DT Tommie Harris of Killeen Ellison, says Texas is still his top team, and he said he will come to the Louisiana-Lafayette game Dec. 9. "I really like what Mack Brown has been doing since he came to Texas," Harris said. * * * * My next fax will be whenever events warrant. The True Orange Fax Service includes at least 99 faxes a year and costs $99 ($79 by E-Mail). The True Orange Newsletter includes 26 newsletters and is published weekly during football season and twice monthly during most of the other months. It costs $45. Save by subscribing to both for $130 (or $110 if you take the faxes via E-Mail or $99 if you take the faxes and newsletter via E-Mail). Send check to address at the top of page. I also update my 900 number - 1-900-288-8839 - frequently with recruiting news. My E-Mail address is: truorange@aol.com
[IMAGE] GENERATOR/POWER MARKETING FERC Agenda Memo for October 24, 2001 Introduction RTO Week shedded a new light on the pace and direction that the Commission may go in with respect to RTO development. During discussions with the state commission representatives on Thursday, Chairman Wood said with regards to the hard and fast number of RTOs he desired, "the number 4 is officially gone.. if it ever was essentially here." Chairman Wood was very receptive to the recommendations and pleas of the state commissioners and declared that the FERC would take as much time as it needed and that it was "committed to getting the right outcome." With that being said, 5 of the RTO-related proceedings on the agenda for next week's FERC meeting will probably result in extensive discussions encapsulating this week's RTO Week developments and a retreat from a prescriptive order or rulemaking issuing at this time. Commission Agenda: http://www.ferc.fed.us/PUBLIC/ISD/Sunshine.htm If you would like copies of any orders, please do not hesitate to contact us. Below are individual case descriptions. In addition, the Commission will discuss four new "Administrative" issues: A-4 AD02-4 Reliability, Security and Market Operations A-2 AD02-2 Legislative Matters A-3 AD02-3 Customer Matters A-1 AD02-1 Agency Administrative Matters RTO Developments E-1 Discussion of RTO Developments in the Northeast EX02-1-000; RT01-99 PJM; RT01-98 PJM-West; New York ISO RT01-95; Commission discussion on the FERC's ALJ Northeast RTO Mediation Report and comments filed by industry. E-2 Discussion of RTO Developments in the Southeast EX02-2; RT01-100 Gridsouth; RT01-34 Southwest Power Pool; RT01-75 Entergy Services; RT01-77 Southern Company Services - Commission discussion on the FERC's ALJ Southeast RTO Mediation Report and comments filed by industry. E-3 Discussion of RTO Developments In the Midwest EX02-3; RT01-87 Midwest ISO/Alliance; EL01-80 National Grid USA - Commission discussion on RTO developments in the Midwest region. At the last Commission meeting, FERC gave the Midwest ISO a big boost toward the RTO finish line. The discussions with state commissions at this week's RTO week conference may slow down FERC's efforts in mandating RTO structure in the Midwest also. E-4 Discussion of Western Infrastructure Adequacy Conference AD01-2 - Commission discussion on FERC's agenda and scope of the "Adequacy of Western Infrastructure" conference announced at the September 26 Commission meeting and to be held during the Western Governor's Association's meeting on November 2 in Seattle, WA. E-5 Electricity Market Design and Structure RM01-12 - Commission action in response to RTO Week developments and comments filed in the "Electricity Market Design Structure" docket. Market Complaints E-19 San Diego Gas & Electric Co. v. Sellers of Energy EL00-95-034; EL00-98-038 - Order on the CA ISO's compliance filing proposing a new generator outage and maintenance coordination plan. Dynegy and other protesters allege that the CA ISO is attempting to circumvent FERC and "seize control of the outage monitoring" function that is currently FERC' s responsibility and role. E-21 Pacificorp Power Marketing ER01-2685-000 - Order on Pacificorp Power Marketing's request to withdraw its filing of a 10-year power Purchasing Agreement contract with the California Department of Water Resources. Attempting to comply with a Commission order in the Southern Case rescinding waiver and requiring that all long-tern power contacts be filed with the Commission in place of submitting quarterly power marketing reports, Pacificorp filed its long-term contract and later realized that the waiver was still in effect at the time it made the power contract filing. As a result, Pacifcorp filed to withdraw its earlier contract filing. The California Public Utilities Commission filed protest to the withdrawal. E-26 Mirant et al. v. ISO New England, Inc. EL01-93-001 - Order on NSTAR's request for rehearing of the Commission's 8/10/01 order upholding the ISO NE's market rules, which include Market Rule No. 17 affording the ISO NE discretion to negotiate mitigation agreements and enter into market power mitigation contracts with generators. In response to the rehearing request, the ISO NE filed for clarification of this exemption to file mitigation agreements with the FERC, under its discretion granted per the approved market rules. E-30 Calpine Eastern Corp., Mirant et al. v. ISO New England EL01-124-000 - Order on Calpine's complaint against the ISO NE for excluding external energy contracts from its calculation of the energy clearing price for the ISO's market. Tonja Wicks Manager, Energy Supply Policy Alliance of Energy Suppliers Edison Electric Institute Phone: (202) 508-5098 Fax: (202) 508-5600 Fax: (202) 508-5445 ______________________________________________ To subscribe to this list, send an e-mail to alliance@eei.org containing the following information: name, company, title, address, phone, fax and e-mail address. To unsubscribe from this list, send an e-mail to alliance@eei.org containing your name and e-mail address. For more information, please contact the Allaince of Energy Suppliers at alliance@eei.org P-(202) 508-5098 F-(202) 508-5600 Tonja Wicks Manager, Energy Supply Policy Alliance of Energy Suppliers Edison Electric Institute Phone: (202) 508-5098 Fax: (202) 508-5600 Fax: (202) 508-5445 - IMAGE.gif - Tonja Wicks.vcf ********** Several EEI meetings have been postponed or canceled. For more information about a specific meeting, go to ( http://www.eei.org/resources/meetings/postponements.htm )
================================================================ As requested, your News Alert for YHOO follows from EquityAlert.com. To edit/discontinue your alerts please refer to end of message. PLEASE REVIEW THE NOTICE AND DISCLAIMER BELOW ================================================================ =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= =-=-=-=-=-=-=-==-=-=-=-= Paid Advertisement -=-=-=-=-=-=-=-=-=-=-=- =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= Probex Successfully Closes on $12.5 Million Financing Probex Corp. (AMEX: PRB) Financing to assist in continuing engineering and development work leading up to construction of Wellsville, OH, reprocessing facility. Groundbreaking set for first quarter 2001. Probex - New, patented, unparalleled, highly economic and environmentally beneficial motor oil reprocessing technology. 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---------------------- Forwarded by Susan J Mara/SFO/EES on 10/05/2000 03:46 PM --------------------------- Mary Hain@ECT 10/05/2000 05:15 PM To: Tim Belden/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron, Susan J Mara/SFO/EES@EES, Sarah Novosel/Corp/Enron@ENRON, Joe Hartsoe@Enron, mday@gmssr.com, Richard Sanders, Richard Shapiro cc: Subject: Chairman Hoecker's Congressional Testimony asking for retroactive refund authority In his comments, Hoecker asks Congress to give FERC retroactive refund authority. By the way this article is wrong about the refund effective date. The current refund effective date is 60 days from the date FERC's order was published in the Federal Register. It was pushed on August 30, so if in a future order the Commission were to require refunds, they would be calculated beginning October 29th. ---------------------- Forwarded by Mary Hain/HOU/ECT on 10/05/2000 11:43 AM --------------------------- Enron Capital & Trade Resources Corp. From: "Ronald Carroll" <rcarroll@bracepatt.com> 10/05/2000 07:51 AM To: <mary.hain@enron.com>, <smara@enron.com>, <seabron.adamson@frontier-economics.com>, <cfi1@tca-us.com> cc: Subject: Electric Power Plus Article re FERC Chairman Hoecker's Congressional Testimony Law changes needed for retroactive refunds FERC'S Hoecker Asks Congress For Broader Authority _______________________________________________ Date: October 2, 2000 - FERC Chairman James Hoecker (D) told a congressional panel that the commission needs retroactive ratemaking authority to better guard against market power in a competitive environment. Hoecker also urged the congressmen to give the commission broader authority to sufficiently oversee the utility industry's transition to competition. Hoecker's plea to Congress may not be a welcomed one for California, where some state officials want the commission to order refunds to customers after prices in the wholesale market skyrocketed to unprecedented levels this summer. Although Hoecker has informed California that the commission will consider refunds as a part of its larger investigation into the state's bulk power markets, it is clear that currently, the commission does not have that authority to do so retroactively. "The [Federal Power Act] would have to be changed," a FERC staffer says. For its own study -- which began in August -- Hoecker claimed that the commission, if proven necessary, would consider ordering refunds if market participants were indeed price gouging. However, the Federal Power Act (FPA) -- the law that gives the commission much of its authority -- does not consider retroactive refund authority and clarification of that law is probably needed to see if the commission can do that. "If we need to fix market rules or market structures within our jurisdiction, we will do so," Hoecker told the House Committee on Government Reform Sept. 21. "If market power is being exercised, we will respond accordingly, by revoking or modifying market-based rates or reassuring the basis upon which we grant them. We may order refunds to the extent allowed by the FPA, if refunds are justified by record evidence. However, the FPA defines the commission's authority, and leaves responsibility for many helpful measures with California (and other states)." Currently, the FPA allows the commission to issue refunds for transactions made 60 days after the commission initiates an investigation, which in this case would be Oct. 13. However, the law makes no mention of retroactive ratemaking, and FERC officials admit that to do so, the law needs to be changed. "Based upon what I know, the authority of the commission to issue refunds for any period before 60 days following our [investigation] order is highly problematic," Commissioner William Massey (D) told Electric Power Alert. "There are very good arguments that if FERC would try to do that, it would be unlawful and we would need legislation to do that." The Government Reform Committee, chaired by Rep. Dan Burton (R-IN), held a mid-afternoon Sept. 21 hearing to gauge what is being predicted to be a severe energy crisis this winter. The committee heard testimony from Hoecker, Energy Secretary Bill Richardson, and Environmental Protection Agency (EPA) Administrator Carol Browner. Much of the hearing focused on natural gas and oil markets, but both Richardson and Hoecker used the meeting as a forum to blast Congress for failing to pass comprehensive restructuring legislation this year. Richardson expressed his "disappointment" that nothing passed, while Hoecker claimed that FERC needs broader authority if it is to guard against market power. "Congress should place all electric transmission in the continental United States under the same rules for non-discriminatory open access and comparable service," Hoecker said. "The commission's open access rules are not binding on the part of the nation's transmission system . . . owned or controlled by entities other than public utilities. Open access over the facilities of public power and other non-public utilities would promote greater competition in wholesale markets, by expanding trading opportunities for wholesale buyers and sellers." Hoecker pointed to FERC's investigation into bulk power markets and California's energy crisis and claimed that unless the commission receives clear legislative direction, FERC will extremely limited in what it could do to solve the market problems. "Congress, too, has a role to play in ensuring that consumers are able to obtain the energy they need at reasonable prices," Hoecker said. "Most critically, events this summer demonstrate the urgency of enacting electricity legislation to help resolve remaining impediments to competition. Federal legislation can establish the ground rules that will lead to adequate investment in generation and transmission facilities, and higher levels of reliability which is crucial to the digital economy." The chairman also urged Congress to give FERC the authority to mandate regional transmission organization participation and mandate reliability standards. Currently, the House is considering a bill that would make the commission a federal backstop for reliability, but most congressional sources do not expect the bill to pass (see related story). _source: Electric Power Alert _date: October 2, 2000 _issue: Vol. 10, No. 20 _title: FERC's Hoecker Asks Congress For Broader Authority , Inside Washington Publishers
TODAY'S HEADLINES The New York Times on the Web Thursday, May 10, 2001 ------------------------------------------------------------ For news updated throughout the day, visit www.nytimes.com QUOTE OF THE DAY ========================= "We like living here. It's a beautiful place. The only thing we don't like, you can't make any money to survive. My son is getting straight A's. He's not going to be around here." - FRED PRATT, of Morland, Kan. Full Story: http://www.nytimes.com/2001/05/10/national/10TOWN.html NATIONAL ========================= Bit by Bit, Tiny Morland, Kan., Fades Away http://www.nytimes.com/2001/05/10/national/10TOWN.html U. of Virginia Hit by Scandal Over Cheating http://www.nytimes.com/2001/05/10/national/10CHEA.html Smithsonian Is Promised $38 Million, With Strings http://www.nytimes.com/2001/05/10/national/10SMIT.html Western Governors Turn Focus to Need for More Power Lines http://www.nytimes.com/2001/05/10/national/10GRID.html /--------------------- ADVERTISEMENT ---------------------\ Unique Mother's Day Gift Idea! Get her a Rio500 MP3 Player for $49* and each month she can download any two audiobooks for only $12.95. Now she can enjoy listening to her favorite books without using those silly looking bifocals. Plus, she will be the "coolest" mom or grandmom on the block. MP3 Player - they're not just for music anymore. http://www.audible.com/nyt/feboffer3 \---------------------------------------------------------/ POLITICS ========================= In Show of Unity, House Republicans Pass Budget Bill http://www.nytimes.com/2001/05/10/politics/10HOUS.html Price of Gasoline May Pose Problem for White House http://www.nytimes.com/2001/05/10/politics/10POLI.html White House Asks Unions to Meet on Energy Policy http://www.nytimes.com/2001/05/10/politics/10ENER.html Bush Appeals for Peace on His Picks for the Bench http://www.nytimes.com/2001/05/10/politics/10JUDG.html INTERNATIONAL ========================= Families of Chechnya's Disappeared Seek Answers http://www.nytimes.com/2001/05/10/world/10CHEC.html Mexico's Leader Is Finding the Democratic Road Bumpy http://www.nytimes.com/2001/05/10/world/10FOX.html Death Toll Thought to Top 100 in a Soccer Stampede in Ghana http://www.nytimes.com/2001/05/10/world/10GHAN.html 2 Jewish Teenagers Are Beaten to Death in the West Bank http://www.nytimes.com/2001/05/10/world/10ISRA.html BUSINESS ========================= Suits Accuse Drug Makers of Keeping Generics Off Market http://www.nytimes.com/2001/05/10/business/10DRUG.html Public Ventures Do Private Deals but Sometimes Are Left Bloodied http://www.nytimes.com/2001/05/10/business/10PIPE.html Firm Auditing MicroStrategy Settles Lawsuit http://www.nytimes.com/2001/05/10/business/10AUDI.html Black Sales Agents File Discrimination Suit Against Xerox http://www.nytimes.com/2001/05/10/business/10BIAS.html TECHNOLOGY ========================= Looking Back at My First PC http://www.nytimes.com/2001/05/10/technology/10BLUE.html Hackers Report a Truce http://www.nytimes.com/2001/05/10/technology/10HACK.html Nintendo Grows Up and Goes for the Gross-Out http://www.nytimes.com/2001/05/10/technology/10CONK.html How It Works: Fuel Cells Provide Clean, Reliable (and Pricey) Electricity http://www.nytimes.com/2001/05/10/technology/10HOWW.html NEW YORK REGION ========================= Yellow Cabs Battle Invasion of Their Turf http://www.nytimes.com/2001/05/10/nyregion/10CABS.html Friends Mourn Slain Bronx Girl as Police Investigate http://www.nytimes.com/2001/05/10/nyregion/10GIRL.html Board Allows Rent Increases of 3% and 5% http://www.nytimes.com/2001/05/10/nyregion/10RENT.html Ferrer Refuses Endorsement Linked to Race http://www.nytimes.com/2001/05/10/nyregion/10MAYO.html SPORTS ========================= Devils Beat Toronto to Advance http://www.nytimes.com/2001/05/10/sports/10DEVI.html Niedermayer Shouldn't Have Played in Devils Game, and He Didn't http://www.nytimes.com/2001/05/10/sports/10ANDE.html A Masterful Clemens Nibbles at a No-Hitter http://www.nytimes.com/2001/05/10/sports/10YANK.html This Time, It's Iverson's Turn to Light the Fire http://www.nytimes.com/2001/05/10/sports/10SIXE.html ARTS ========================= Christopher Wheeldon, City Ballet's Meteor, Lights Up the Mirror http://www.nytimes.com/2001/05/10/arts/10WHEE.html Ken Kesey, Checking In on His Famous Nest http://www.nytimes.com/2001/05/10/arts/10KESE.html A Supermodel of a Hotel Sashays to Astor Place http://www.nytimes.com/2001/05/10/arts/10NOTE.html 'Wingspan': Home Movies Starring the Cute Beatle http://www.nytimes.com/2001/05/10/arts/10GATE.html OP-ED COLUMNISTS ========================= By BOB HERBERT: Mr. Ferrer's Dilemma Bronx borough president Fernando Ferrer's courting of the Rev. Al Sharpton's support has provided a bumpy start to a New York City mayoral campaign. http://www.nytimes.com/2001/05/10/opinion/10HERB.html By WILLIAM SAFIRE: Battle of the Blue Slips Senate Democrats prepare for war over President Bush's judicial nominations. http://www.nytimes.com/2001/05/10/opinion/10SAFI.html HOW TO CHANGE YOUR SUBSCRIPTION ------------------------------------------------------------ You received these headlines because you requested The New York Times Direct e-mail service. To cancel delivery, change delivery options, change your e-mail address or sign up for other newsletters, see http://www.nytimes.com/email HOW TO ADVERTISE ------------------------------------------------------------ For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact Alyson Racer at alyson@nytimes.com or visit our online media kit at http://www.nytimes.com/adinfo
---------------------- Forwarded by Juan Hernandez/Corp/Enron on 05/21/2001 08:53 AM --------------------------- Rudy Acevedo@ECT 05/16/2001 12:05 PM To: Juan Hernandez/Corp/Enron@ENRON cc: Subject: Fwd: A SERIOUS MEXICAN BIRTHDAY PARTY! ---------------------- Forwarded by Rudy Acevedo/HOU/ECT on 05/16/2001 12:04 PM --------------------------- "Brenda A. Salinas" <menachuchena@hotmail.com> on 05/16/2001 11:59:11 AM To: rudy.acevedo@enron.com cc: Subject: Fwd: A SERIOUS MEXICAN BIRTHDAY PARTY! THIS IS TOO FUNNY !!!! ? ENJOY !!! B- >Subject: Fwd: A SERIOUS MEXICAN BIRTHDAY PARTY! >Date: Wed, 16 May 2001 11:54:52 EDT > > Get your FREE download of MSN Explorer at http://explorer.msn.com Return-path: <JRiceprod@aol.com> From: JRiceprod@aol.com Full-name: JRiceprod Message-ID: <4d.bbe0abc.283345f6@aol.com> Date: Tue, 15 May 2001 22:54:46 EDT Subject: Fwd: A SERIOUS MEXICAN BIRTHDAY PARTY! To: Cheryl.Arguijo@enron.com, hunchbackluv@hotmail.com, brackeenjr@yahoo.com, roland.hernandez@exxon.sprint.com, GrandeRGV@aol.com, mgarcia@e-aquifer.com, cornelius_shirley@dao.co.harris.tx.us, upon16@yahoo.com, rue.ramirez@mail.utexas.edu, jrice@khou.com, JTamm1215@aol.com, larrystuever@yahoo.com, jason.ward@nhmccd.edu MIME-Version: 1.0 Content-Type: multipart/mixed; boundary="part2_3e.bce6099.283345f6_boundary" X-Mailer: AOL 5.0 for Windows sub 138 Return-Path: <lquintal@amwpc.com> Received: from rly-zc02.mx.aol.com (rly-zc02.mail.aol.com [172.31.33.2]) by air-zc04.mail.aol.com (v78.38) with ESMTP; Mon, 14 May 2001 10:14:24 -0400 Received: from mail1.pcm.net (pcm.net [207.91.150.11]) by rly-zc02.mx.aol.com (v77_r1.36) with ESMTP; Mon, 14 May 2001 10:14:11 2000 Received: from LETECIA [209.140.43.74] by mail1.pcm.net (SMTPD32-6.05) id AA39E49A0396; Mon, 14 May 2001 09:22:49 -0500 Message-ID: <003001c0dc80$5a60ecc0$4a2b8cd1@PCM.NET> From: <lquintal@amwpc.com> To: "Quintal, Joe" <Joe.Quintal@cityofhouston.net> Cc: "Nancy Villarreal" <nvillarreal@plummerlawyers.com>, "Tessa Diaz" <tessa.f.diaz@exxon.com>, "Miguel Diaz" <Miguel.Diaz@puffer.com>, "Martha Sainz" <Martha_Sainz@agfg.com>, "Mary Francis Perez" <mperez@aglife.com>, "Cindi Garcia" <CINDI.GARCIA@chase.com>, "Pat Garcia" <pgarcia103@aol.com>, "Judy Jozwiak" <antjoz@worldnet.att.net>, "Laura Rice" <JRiceprod@aol.com>, "Pam Banks" <pebanks@mindspring.com>, "Neila Fernandes" <mceend@hotmail.com>, "Hamilton, Erin" <ehamilton@fna.com>, "Jaramillo, Angelica" <Angelica.Jaramillo@COMPAQ.com> Subject: RE: A SERIOUS MEXICAN BIRTHDAY PARTY! Date: Mon, 14 May 2001 09:15:36 -0500 MIME-Version: 1.0 Content-Type: multipart/alternative; boundary="----=_NextPart_000_002D_01C0DC56.6FD67E00" X-Priority: 3 X-MSMail-Priority: Normal X-Mailer: Microsoft Outlook Express 5.00.2615.200 X-MimeOLE: Produced By Microsoft MimeOLE V5.00.2615.200 FW:? A SERIOUS MEXICAN BIRTHDAY PARTY! ? You know you are at a SERIOUS MEXICAN BIRTHDAY PARTY IF: ? 1.??? Some of the guests didn't bring a gift, but brought extra uninvited kids. 2.??? When the cake says "Happy Birthday Mijo" instead of the child's real name. 3.??? The party is at Chuck E. Cheese, but they brought their own food, cake, and a pinata. 4.??? It's a party, but there are more grown-ups than children. 5.??? It's "Mijo's" 1st Birthday and the party food is carne asada, arroz con frijoles puercos, y 10 cases of beer. 6.??? For entertainment, instead of playing pin the tail on the donkey, there is usually a televised baseball, football game, or a live fight. 7.??? They don't sing Happy Birthday, instead everyone is salsa dancing. 8.??? The party was over at 5:00, it's 10:00 and the party is just starting. 9.??? You find out from Abuela that Abuelo is taking viagra. 10.??? The host calls someone who's on their way and tells them to stop and get some tortillas and ice. 11.??? The guests start arriving and the hostess disappears to get ready. 12.??? You hear someone go up to the birthday child and say "Mira, tan cute!" 13.??? Someone else says? "I'm going to have to get you something next week when I get paid. 14.??? The party is Saturday, and you get a call from the hostess Friday night saying, "I'm giving Mijo a birthday party tomorrow at 3:00." 15.??? Some guests bring gifts that are still in the store bag unwrapped. 16.??? There always seems to be more family than friends at the party. 17.??? You have the party over at your's brother's because he bought a new house and he has a pool. 18.??? The cake didn't come from the store; it came from the mother of the comadre of your friend's sister who makes really good cakes. 19.??? You are told you have to save your plate and fork you ate your food with, so you can eat you cake. 20.??? Someone calls and says they can't make it, but asks that you save them some cake. 21.??? Guests are wrapping up cake to take to Madre, Tio, Abuela, Chata y el Junior. 22.??? The party music is coming from a small boom box. 23.??? The birthday child is dressed from head to toe in Tommy. 24.??? The birthday baby's Daddy comes to the party and brings the kid he had before and after the Birthday Baby. 25.??? It's "Mijo's" party, but since his cousin Madonna is there and her birthday is in a few days, it becomes Mijo's and Madonna's party. ? Power to la Raza ? I thought this was?something to share with all you REAL Mexicans and those who are still trying to get to know us.......... ?
I certainly agree on the tip of the iceberg point. They do need to be watched and watched carefully. An isolated incident is one thing, a pattern of losses is quite another. My experience with Campbell has been limited to watching him operate in committee, and I have not been impressed. I would be happy to be surprised in the future. MIKE At 07:09 PM 7/24/2001 -0500, you wrote: >Interesting points. However, I don't ever recall you agreeing with every >Commission decision on disallowances. And I know you wouldn't establish >differing standards for IOUs and state water agencies. > >I just hope that this isn't the tip of the iceberg. > >You really think that Campbell is a dim bulb? A Republican, yes, but I >haven't heard anyone else describe him as a dim bulb. > >Best, >Jeff > > > > > Mike > Florio > <mflorio@turn To: Jeff.Dasovich@enron.com > > .org> cc: > > Subject: Re: Figures show > state lost big on > 07/24/2001 extra > power > 05:40 > PM > > > > > > > > >Shame on you, Jeff! I expect this sort of thing from inexperienced >reporters and dim bulbs like Campbell. But you KNOW that this sort of >thing is no big deal. And when did the PUC ever disallow these kinds of >losses for the utilities? I don't think my memory has gotten that bad. >MIKE > > > >At 03:20 PM 7/24/2001 -0500, you wrote: > >FYI. Many similar stories in the major papers today. > > > >Best, > > > > > >Jeff > > > > > >Figures show state lost big on extra power > > > > > >Posted at 9:53 p.m. PDT Monday, July 23, 2001 > > > > > >BY JOHN WOOLFOLK > > > > > >Mercury News > > > > > >State figures show California may have lost about $14 million this month > >selling surplus electricity for less than it cost. > > > > > >The Mercury News disclosed last week that some power was being sold at a > >loss. But the new figures provide the first indication of just how much > >excess power the state bought in its desperate effort to avoid blackouts >-- > >and how cheaply some of that power was sold when it turned out not to be > >needed. > > > > > >A Republican lawmaker said Monday the loss also shows Democratic Gov. Gray > >Davis' energy policies are needlessly costing consumers. > > > > > >``This whole thing is a mess,'' said Assemblyman John Campbell, R-Irvine, > >who requested details of the state's surplus power sales. ``The government > >needs to get out of the power business before it costs Californians even > >more money.'' > > > > > >A state spokesman didn't dispute the $14 million figure outright but said > >it is an approximation based on average prices and that the actual loss > >probably is less. > > > > > >``It's a number I'm sure he likes very much, but it's definitely an > >estimated number, and it could be far lower,'' said Oscar Hidalgo, > >spokesman for the state Department of Water Resources. > > > > > >Campbell responded that the loss also could be higher. > > > > > >The state has spent $415 million on power so far this month. > > > > > >State officials last week confirmed that cool weather and consumer > >conservation have left California holding more power than it needs. The > >revelation was a stunning turnaround for a state that months ago was >paying > >top dollar for power, expecting shortages this summer. > > > > > >Price that was paid > > > > > >The state bought 3.5 million megawatt-hours of electricity for July at an > >average price of $118 per megawatt-hour, according to a response Friday by > >the Department of Water Resources to Campbell's inquiry. The state has >sold > >178,000 surplus megawatt-hours in July at an average price of $37, the > >department said. > > > > > >Based on those average prices, the state paid $21 million for the surplus > >power, which it sold for $6.5 million -- $14.5 million less than it cost. > > > > > >A more precise calculation of the state's loss is difficult because > >purchased power is acquired at different times and prices and pooled as a > >``portfolio.'' > > > > > >Purchases included long-term contracts that averaged $138 per >megawatt-hour > >as well as cheaper spot-market buys. > > > > > >State officials last week said they were selling surplus at $15 to $30 a > >megawatt-hour, while some traders cited unconfirmed sales as low as $1. > > > > > >Hidalgo noted that the surplus sales represent just 5 percent of > >California's July purchases, which totaled $415 million. The $6.5 million > >from sales will help lower the state's power bill, he said, adding that > >utilities routinely sell some extra electricity. > > > > > >``Despite the fact that we're in somewhat of a surplus, any power-buying > >operation in the world is going to have to plan for these types of > >situations,'' Hidalgo said. ``It's not unique, and in fact it's normal > >operating procedure for any utility.'' > > > > > >Other Western utilities, including Portland General Electric in Oregon, > >have said they, too, are selling some surplus power at a loss and describe > >it as a cost of doing business. > > > > > >The suppliers buying the state's surplus electricity on the cheap include > >the big out-of-state energy companies that the governor has called > >price-gouging ``snakes.'' Among them are Duke Energy, Dynegy Power and > >Marketing, El Paso Power Services, Mirant, Reliant Energy and Williams > >Energy. > > > > > >`Best bid' taken > > > > > >Hidalgo said the state took the best offers it could find. > > > > > >``It's only reasonable to get the best bid you can,'' he said. > > > > > >Campbell said the $14 million loss is troubling because ratepayers or > >taxpayers will have to cover the cost, whereas a private utility could be > >forced to eat the expense if regulators determined it was unreasonable. > > > > > >State officials say what's more important is that the overall cost of >power > >is dropping, from an average daily tab of $64 million in May to $25 >million > >this month, in part because the state has so much power. > > > > > >Contact John Woolfolk at jwoolfolk@sjmercury.com < > >mailto:jwoolfolk@sjmercury.com> or (408) 278-3410.
Good points. But you'll be happy to know that I bought 100 shares of enron yesterday. Now I own your ass! >From: Jeff.Dasovich@enron.com >To: "Scott Laughlin" <scottwl@hotmail.com> >CC: cameron@perfect.com, eldon@interx.net, jdasovic@enron.com, >JJfreedom@earthlink.net, Nancy.Sellers@RobertMondavi.com, >psellers@Haas.Berkeley.EDU >Subject: Re: letter >Date: Fri, 6 Apr 2001 15:50:01 -0500 > > >This thing's been floating around the web for a while. Show's what's wrong >with good ol' California. To wit: > > We want federal water subsidies so we can kill the fish and grow rice > and grapefruit in the desert ("and we'll keep it all for us?"). > Let's drive our freakin' gas-guzzlin' SUVs all over, but hey, who needs > to invest in roads; and somebody else come quick and clean up our air > from all those emissions. > And we're 49th in the nation for spending on education. Great stuff. > Now, we've decided we want other state's with less sophisticated people > (in places like Nevada, Montana, Oregon, Washington, New Mexico) to > build power plants (and pollution) in their states to feed electricity, > and dam their rivers and kill their salmon so that we can heat our hot > tubs and STILL pay 3 cents a kilowatt hour. > And oh, by the way, it's federal taxes and the military industrial > complex which has funded CA's weapons industry and communications > industry. As no big fan of the military industrial comples, I'm just > crying crocodile tears. > >Generally the kind of self-righteous doo-doo that turns people off to what >is an otherwise great place to be. > >Yours in tender diatribes, >Jeff > >PS Scott, I think that you're absolutely right: drilling in the Arctic >Refuge in good for America.... > > > > "Scott > Laughlin" To: cameron@perfect.com, >eldon@interx.net, > <scottwl@hotm JJfreedom@earthlink.net, >jdasovic@enron.com, > ail.com> Nancy.Sellers@RobertMondavi.com, > psellers@Haas.Berkeley.EDU > 04/06/2001 cc: > 03:12 PM Subject: letter > > > > > >Hope this doesn't piss Jeff off too much... > > >America has engaged in some finger wagging lately because California >doesn't have enough electricity to meet its needs. The rest of the >country (including George W. Bush's energy secretary Spencer Abraham, >who wants Californians to suffer through blackouts as justification for >drilling for oil in Alaska's Arctic National Wildlife Refuge) seems to >be just fine with letting Californians dangle in the breeze without >enough power to meet their needs. They laugh at Californians' >frivolity. > >Well, everybody. Here's how it really is: California ranks 48th in the >nation in power consumed per person. California grows more than half the >nation's fruit, nuts and vegetables. We're keeping them. We need something >to eat when the power goes out. We grow 99 percent or more of the nation's >almonds, artichokes, dates, figs, kiwi fruit, olives, persimmons, >pistachios, prunes, raisins and walnuts. Hope you won't miss them. > >California is the nation's number one dairy state. We're keeping our >dairy products. We'll need plenty of fresh ones since our refrigerators >can't be relied upon. Got milk? > >We Californians are gonna keep all our high-tech software in state. >Silicon Valley is ours, after all. Without enough electricity, which >you're apparently keeping for yourselves, we just plain don't have >enough software to spare. > >We're keeping all our airplanes. California builds a good percentage of >the commercial airliners available to fly you people to where you want >to go. When yours wear out, you'd better hope Boeing's Washington plant >can keep you supplied. There isn't enough electricity here to allow us >to export any more planes than we need ourselves. > >And while we're at it, we're keeping all our high-tech aerospace stuff, >too, like the sophisticated weapons systems that let you sleep at >night, not worried you might wake up under the rule of some foreign >kook. [As opposed to some domestic kook] > >Oh, yeah, and if you want to make a long-distance call, remember where >the satellite components and tracking systems come from. Maybe you >could get back in the habit of writing letters. > >Want to see a blockbuster movie this weekend? Come to California. We >make them here. Since we'll now have to make them with our own >electricity, we're keeping them. Even if we shot them somewhere else, >the labs, printing facilities, editing facilities, and sound facilities >are all here. > >Want some nice domestic wine? We produce over 17 million gallons per >year. We'll need all of it to drown our sorrows when we think about the >fact that no matter how many California products we export to make the >rest of America's lives better, America can't see its way clear to help >us out with a little electricity. You can no longer have any of our >wine. > >You all complain that we don't build enough power plants. Well, you >don't grow enough food, write enough software, make enough movies, >build enough airplanes and defense systems or make enough wine. > >This is your last warning, America. Lighten (us) up before it's too late. > >Love, > >The Californians > >_________________________________________________________________ >Get your FREE download of MSN Explorer at http://explorer.msn.com > > > > > _________________________________________________________________ Get your FREE download of MSN Explorer at http://explorer.msn.com
The Oxford Princeton Programme E-Newsletter ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ The World's Leading Provider of Full Spectrum Training Solutions for the Energy Industry and Beyond. http://www.oxfordprinceton.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ In this edition: - Brand new PrincetonLive.com courses - A history of The Oxford Princeton Programme - Free white papers: * Forward Curves: Managing Price Risk * Protecting Your Earnings: Managing the FASB133 Challenge - The Oxford Princeton Programme to present e-learning workshop at the 2001 APPEC conference - The Oxford Princeton Programme roadshow - The Oxford Princeton Programme course schedules ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ PrincetonLive.com continues to roll out new web-based training courses... Forwards and Swaps from the Flight Deck Available May 14, 2001 You are the new Risk Manager for Lucky Seven Airlines, and today,s your first day. Join your new boss, pilot and owner Bud Russo, and learn how Forwards and Swaps are the financial instruments that can help keep Lucky Seven in the air. On your first day on the job, you,ll get an in-depth look at how they work and some practical applications. Introduction to the Oil Industry Available Now The oil business is a huge global industry, encompassing many specific activities. An Introduction to the Oil Industry provides a sweeping overview of this fascinating sector of the energy industry. You'll see it all, from underground to the gasoline pump. Join oilman RJ Dewing for the complete tour. Hedging With Futures and Options Coming in June This course will provide an overview of hedging using exchange- traded futures and options. It will cover key terms and concepts and will review hedging strategies using futures and options for a range of different participants. The course will contain practical examples from various commodity markets. 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Our resident expert Carl Holland will be on the road and wants to come to visit your company. Carl has over 30 years experience of the industry and will be discussing the many ways we can pass our knowledge through every level of your business from executives to support staff. For further details visit: http://www.oxfordprinceton.com/news/news0120.asp ~~~~~~~~~~~~~~~~~~~~~~~~~~ The Oxford Princeton Programme Course Schedules PrincetonLive.com - Web-based training, you set your own schedule! 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We will need the "organizational ID" number for the Delaware, Maryland and Texas entities. If you wish, we can obtain this information from CT Corp. or a similar service provider for a charge of $12 per entity. Also, for UCC filing purposes, we need to know whether any counterparty is a "transmitting utility", i.e., entity primarily engaged in transmitting or producing electricity or transmitting goods by pipeline. Finally, I assume you will consult with local counsel regarding the Canadian counterparties. Thank you. Lech Kalembka Cadwalader, Wickersham & Taft 100 Maiden Lane New York, NY 10038 Tel.: (212) 504-6918 Fax: (212) 504-6666 E-mail: lech.kalembka@cwt.com "Heard, Marie" To: lech.kalembka@cwt.com <Marie.Heard@ cc: ENRON.com> Subject: FW: Enron Canada Office: Corp 11/06/2001 02:04 PM Is there anything else you need for BP Amoco? Marie > -----Original Message----- > From: "Dixon, Billy D" <billy.dixon@bp.com>@ENRON > Sent: Tuesday, November 06, 2001 1:00 PM > To: Heard, Marie > Subject: RE: Enron Canada Corp > > Principal Operating Offices: > > BP Corporation North America Inc. > 200 East Randolph Drive > Chicago, Illinois 60601 > > BP Energy Company > 501 West Lake Park Boulevard > Houston, Texas 77079 > > Vastar Resources, Inc. > 200 East Randolph Drive > Chicago, Illinois 60601 > > BP Canada Energy Company > 240 - 4th Avenue S.W. > Calgary, Alberta T2P 4H4 > > BP Canada Energy Marketing Corp. > 200 East Randolph Drive > Chicago, Illinois 60601 > > Cibola Energy Services Corporation > 350 N. St. Paul Street > Dallas, TX 75201 > > IGI Resources, Inc. > 200 East Randolph Drive > Chicago, Illinois 60601 > > BP Oil Supply Company > 200 East Randolph Drive > Chicago, Illinois 60601 > > BP Products North America Inc. > 200 East Randolph Drive > Chicago, Illinois 60601 > > BP Amoco Chemical Company > 200 East Randolph Drive > Chicago, Illinois 60601 > > Atlantic Richfield Company > 333 S. Hope Street > Los Angeles, CA 90071 > > Amoco Production Company > 501 WestLake Park Boulevard > Houston, Texas 77079 > > BP Chemicals Inc. > 200 East Randolph Drive > Chicago, Illinois 60601 > > > -----Original Message----- > From: Heard, Marie [mailto:Marie.Heard@enron.com] > Sent: Tuesday, November 06, 2001 8:54 AM > To: billy.dixon@bp.com > Subject: RE: Enron Canada Corp > > > I sure will if you will tell me the principal place of business of all > your entities party to the Master Netting Agreement. > > Enron Canada Corp. > 3500, 400 - 3rd Avenue S.W. > Calgary, Alberta T2P 4H2 > > > -----Original Message----- > > From: "Dixon, Billy D" <billy.dixon@bp.com>@ENRON > > Sent: Tuesday, November 06, 2001 7:47 AM > > To: Heard, Marie > > Subject: Enron Canada Corp > > > > Would you please tell me where Enron Canada Corp.'s principal place > of > > business in Canada is located? > > > > Very truly yours, > > > > BILLY > > Billy D. Dixon > > Attorney > > BP America Inc. > > 501 Westlake Park Blvd., Rm 16.166 > > Houston, Texas 77079 > > Direct 281/366-4745 > > Fax 281/366-5901 > > billy.dixon@bp.com > > > > *IMPORTANT -- THIS EMAIL AND ANY ATTACHMENTS HERETO ARE > > ATTORNEY-CLIENT > > AND/OR ATTORNEY WORK-PRODUCT PRIVILEGED AND CONFIDENTIAL. If you > have > > received this email in error, do not under any circumstances read, > > forward, > > copy, disseminate or save this email or any of its attachments. If > > you have > > received this email in error, take the following actions: (1) reply > to > > this > > email indicating that you received this email in error, and (2) > delete > > and > > completely erase this email and its attachments from your computer > and > > any > > backup systems or "Deleted Items" folders. > > > > > ****************************************************************** > This e-mail is the property of Enron Corp. and/or its relevant > affiliate and > may contain confidential and privileged material for the sole use of > the > intended recipient (s). Any review, use, distribution or disclosure by > others is strictly prohibited. If you are not the intended recipient > (or > authorized to receive for the recipient), please contact the sender or > reply > to Enron Corp. at enron.messaging.administration@enron.com and delete > all > copies of the message. This e-mail (and any attachments hereto) are > not > intended to be an offer (or an acceptance) and do not create or > evidence a > binding and enforceable contract between Enron Corp. (or any of its > affiliates) and the intended recipient or any other party, and may not > be > relied on by anyone as the basis of a contract by estoppel or > otherwise. > Thank you. > ******************************************************************** ============================================================================== NOTE: The information in this email is confidential and may be legally privileged. If you are not the intended recipient, you must not read, use or disseminate the information. Although this email and any attachments are believed to be free of any virus or other defect that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by Cadwalader, Wickersham & Taft for any loss or damage arising in any way from its use. ==============================================================================
John, FYI Vince ---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/27/2000 03:31 PM --------------------------- "Dale M. Nesbitt" <dale.nesbitt@worldnet.att.net> on 11/27/2000 02:51:54 PM Please respond to <dale.nesbitt@marketpointinc.com> To: <Vince.J.Kaminski@enron.com> cc: Subject: RE: MarketPoint License Agreement Vince: I will send you our contract for the week long engagement. The way we do it is send out our time and materials contract, which has a space for individual task statements. I then put in a task statement for the week long project at the $12K level so that the costs and risks are capped for you. Look for it in the next day or two. With regard to the long run and short run gas models, they are both implemented in the same software system. Neither is a prerequisite for running the other, but both operate the same way and the sum of the two consumes approximately the same resources are either individually. I plan to have an extended visit in Houston beginning one week from today and lasting through the following Wednesday. (Intensively tutoring my daughter for her first semester economics finals at Rice. She certainly should have gotten a better looking tutor.) That will make it very easy to come by and finalize whatever needs to be finalized with you that week. With her in Houston, I spend a good bit of time there. Look for the stuff in the next day or two. I look forward to working with you and your colleagues. Thanks Dale -----Original Message----- From: Vince.J.Kaminski@enron.com [mailto:Vince.J.Kaminski@enron.com] Sent: Monday, November 27, 2000 10:44 AM To: dale.nesbitt@worldnet.att.net Cc: Vince.J.Kaminski@enron.com Subject: Re: MarketPoint License Agreement Dale, Thanks for your message. In our phone conversation before the meeting you mentioned another contractual arrangement under which we could work with your company employees on a case-study. The cost of a weekly project would be $12,000 that would be applied to the purchase price should we go ahead and decide to acquire the software. This project would allow us to evaluate the model and come up with an estimate of the manpower necessary to support the model internally. Please, let me know more about this option. We are primarily interested in a long-term natural gas model and the database for North America. Unless a familiarity with the short term model is a prerequisite, we don't have resources to spend too much time on it. Of course, a trading desk may be interested in the short term version of the model. I shall talk to them about it. Vince "Dale M. Nesbitt" <dale.nesbitt@worldnet.att.net> on 11/13/2000 06:00:05 PM To: <john.goodpasture@enron.com>, "Vince. J. Kaminski" <Vince.J.Kaminski@enron.com> cc: Subject: MarketPoint License Agreement John/Vince: I really enjoyed the meeting the other day with you and a broad cross section of your people. Thank you very much for setting it up, and thank you for giving me the opportunity to speak with your people. As I mentioned to John, I am sending you the license paperwork for MarketPoint. I have attached our standard license agreement for your consideration. As I mentioned, the license agreement covers the entire bundled product, which includes ? North American gas, short and long term ? North American electricity, short and long term ? World gas ? Western European gas ? World oil We are just finishing porting the world oil, world gas, and western European gas models over from our old (now obsolete) software system into MarketPoint, so they will not be fully tested and complete for a couple of months. However, the gas and electricity models for North America are presently complete and tested. That should allow us to give you an attractive price before the full worldwide toolkit is available throughout your worldwide business. As I understood it, you will want the gas modeling capability first and will want to defer decisions on electric or other capability. As I mentioned at the meeting, we are prepared to offer that for approximately the fully bundled price. As you read the license agreement, you will see that the software licenses for $100,000 annually, the gas data for $5,000, and the electric data for $10,000. MarketPoint will agree to license you the gas model plus the data for the software license plus the data license for a total of $55,000 annually. This is just under the fully bundled price. I think that is consistent with the discussions at our meeting, and from MarketPoint's perspective would provide a great basis to move forward together with Enron. If or when Enron ever desires to "scale up" to another model or model(s) from the MarketPoint portfolio, we will simply scale you up to the entire license agreement. This will allow you to decouple the gas decision from any other decisions you might make. (I will be glad to put this additional pricing provision into the agreement if you decide to move forward.) I felt I was able to communicate the philosophy, scope, and operation of our approach during the meeting and to deliver you much of the information you might need to evaluate whether MarketPoint meets your needs. I thought you were able to see the depth and sophistication of the product yet at the same time its simplicity and effectiveness. I thought you were able to see the benefits of the MarketPoint dimension of economic equilibrium as a complement and supplement to other approaches you will assuredly use. I would be interested in your impressions and those of your colleagues. I look forward to your response and to moving ahead together. We view you as a very important prospective customer and client and will work with you to earn and secure your business. If you decide to license MarketPoint, we can arrange to transfer and mount MarketPoint and the short term NARG model (which is the model we suggest you begin with) and travel to Houston to deliver our 1 day training seminar. Our clients are usually very fluent after that 1 day training seminar. Thereafter, we would want you to work with the short term NARG model for a few weeks while you get up to speed, very fluent, and very comfortable before you take delivery of the longer term version of NARG several weeks later. Thanks again, and all the best. If there is some item from the meeting that I might have forgotten to send, please remind me. My notes don't show anything, but I was speaking a lot rather than writing notes during the meeting and might have overlooked something someone wanted. Dale Nesbitt President MarketPoint Inc. 27121 Adonna Ct. Los Altos Hills, CA 94022 (650)218-3069 dale.nesbitt@marketpointinc.com (See attached file: LICENSE.DOC)
The Houston community is well known for assisting neighbors in need, and Enron is no exception. There are numerous opportunities over the next week to help rebuild our community in the aftermath of Tropical Storm Allison. Four Enron sponsored activities will take place during business hours this week. Enron is also holding a donation drive and a blood drive. There are many agencies that need volunteers at different times throughout the week, and we have listed these opportunities, as well. If you are interested in helping out these groups, please call the individual contact phone number listed for each project. Thank you for volunteering your time to help the Houston community during this time of great need. Please feel free to send this information to other friends and family who may be interested. Enron Sponsored Volunteer Opportunities Please call or e-mail Jennifer Milligan at 713-853-5272 if you have questions or want to sign up for one of these projects. 1. Prepare lunches for families in need Join Enron in partnership with Prudential to pack lunches for families in the Fifth Ward. Bring one or more of the items below (in bulk) to the table on the Plaza Java side of the Enron Building lobby on June 12 or June 13th. Designated Donation Items for lunch bags: ? Vienna sausages or Starkist tuna Salad Pack. ? Peanut butter or cheese cracker pack. ? 100% juice drink. ? Canned diced fruit or flavored applesauce. ? Non-refrigerated pudding cup made with skimmed milk. ? Plastic spoon. ? Napkin. Volunteers are needed for packing/assembly in the Energizer from 9:00 a.m. to 11:00 a.m. on Wednesday, June 13. Our goal is to fill 3000 lunch bags. Call Jennifer Milligan, or just drop by the Energizer, to help stuff bags. 2. Scheduled for Wednesday, June 13: Bealle Village, a Neighborhood Services program, is a 20 unit senior living apartment complex. They are also in need of volunteers to assist in cleaning, pulling carpets, etc. The Enron Shuttle will depart for this project at 1:15 p.m on Wednesday from Andrews St., and will return at 4:00 p.m. Call Jennifer Milligan to sign up. 3. Scheduled for Thursday, June 14: Familytime Foundation has a shelter for battered women and their children. This shelter was flooded and they are in need of volunteers to assist with cleaning, disinfecting, and pulling carpets. This facility is in the Humble area and transportation will also be provided. The Enron Shuttle will depart for this project at 9 a.m. on Thursday from Andrews St., and will return at 1 p.m. Lunch will be provided. Call Jennifer Milligan to sign up. 4. Scheduled for Friday, June 15: Help Second Baptist Church assist with the repair of damaged homes in northeast Houston. Volunteers are needed to help pull out flooded appliances and furniture and work on repair/replacement projects. The Enron Shuttle will transport two shifts of volunteers on Friday - from 9 a.m. to 1 p.m. or 12:30 p.m. to 4:30 p.m. Lunch will be provided for those participating in the morning shift. Please call Jennifer Milligan to sign up. The three projects listed above are in need of cleaning products such as buckets, mops, brooms, towels, rags, paper towels, and any household cleaners. Please bring any of these products to the volunteer project or deliver them to EB 1636A. Additionally, make sure to wear jeans and Enron Envolved t-shirts. We will provide Enron Envolved T-shirts for those of you who do not already have one. Donations Needed for Agencies Across the City Please drop off donations at the Info Zone on the Plaza Java side of the Enron Building lobby from 11 a.m. - 2 p.m., Wednesday, June 13 through Friday, June 15. Items needed: toiletries paper products blankets pillows non-perishable food pet food formula diapers cribs bedding (baby and adult) bug repellant clothing: socks, undergarments, large size shoes cleaning supplies Blood Drive MD Anderson's mobile blood unit will be parked on Andrews St. in front of the Enron Building on Thursday, June 14 from 10 a.m. to 3 p.m. The mobile unit team will take three donors every 15 minutes during the drive. Walk-in donors will be accepted, but appointments are preferred. Please call or e-mail Georgia Fogo (x. 3-5609) to schedule an appointment. Citywide Volunteer Opportunities Sign-up information and contact numbers are listed for each individual project. Many of these can use volunteers this weekend, as well as throughout the week. San Jacinto Baptist Church, corner of Flint and Muscatang (off of I-10 East, exit Mercury - stay on the feeder road and turn right on Flint): Volunteers are needed to help run the shelter from 5 p.m. to 5 a.m. - tough hours to fill! Please call Heather Hughes at Second Baptist Church to get more information - 713-465-3408. Associated Catholic Charities, 2900 Louisiana: Ten apartments in the Serenity House Program were flooded. These apartments, used by out-of-town patients being treated at M.D. Anderson Cancer Center, need to be repaired. Anyone able to help clean the apartments this week should call Nydia Cortez at 713-305-3411. Salvation Army, 27732 Cherrybrook Lane, Pasadena: This office needs volunteers who can process clients or work in the kitchen. They also need donations of toiletries, paper products, blankets, pillows, food and diapers. Call 713-378-0020 or just show up to help. Houston Humane Society, 14799 Almeda: Volunteers are also needed to help repair the permanent shelter. Contact Christy Check at 713-433-6421 or pr@houston.humane.org Bridge Over Troubled Waters, Pasadena: This shelter for women and children has had significant roof and water damage. Volunteers are needed to help with repairs. Call 713-472-0753. Jewish Community Center and Interfaith Ministries of Greater Houston: Need assistance delivering Meals on Wheels. For more information, call Interfaith Ministries at 713-522-3955 and the JCC at 713-729-3200. American Red Cross: Bilingual volunteers in Spanish needed to answer the Hotline from 7 a.m. to 3 p.m. or 3 p.m. to 10 p.m. Volunteers must be able to commit to full shift. Contact Ercel Albert. 713-526-9720 Salvation Army: Volunteers are needed immediately to help set up the warehouse, sort and arrange donated items. All volunteers should contact Jan Porter, Volunteer Coordinator. 713-752-0677, Ext. 316 AVDA (Aid to Victims of Domestic Abuse): volunteers needed to move storage file boxes and go through 100 - 200 boxes to spread out for drying. Contact Jennifer Holmes. 713-224-9911 Chicano Family Center on Wayside: volunteers needed to help clean outside their building. Call 713-926-2601. Houston Food Bank: Volunteers are needed to help sort food for the American Red Cross and Salvation Army Food Shelters. Call Carol Gooden at 713-547-8609.
---------------------- Forwarded by Richard Shapiro/NA/Enron on 02/07/2001 08:54 AM --------------------------- Ray Alvarez@TRANSREDES 02/07/2001 07:42 AM To: Richard Shapiro@Enron cc: Subject: Dave Barry's thoughts on CA's electrical storage Rick, thought you might enjoy this alternative theory on the root cause of Cal's problem. Ray ---------------------- Forwarded by Ray Alvarez/TRANSREDES on 02/07/2001 09:39 AM --------------------------- Steve Hopper 02/07/2001 08:47 AM To: Ricky Lynn Waddell/SA/Enron@Enron, John Novak/SA/Enron@Enron, Laine A Powell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Peter E Weidler/NA/Enron@Enron, Ray Alvarez/TRANSREDES@TRANSREDES, Doug Farmer/TRANSREDES@TRANSREDES cc: Subject: Dave Barry's thoughts on CA's electrical storage Feb. 2, 2001, 8:06PM The rest of us should tell California to go fly a kite By DAVE BARRY When we consider the serious electricity shortage in California, our reaction, as concerned Americans, is: Ha ha! No, seriously, we are alarmed. Because history teaches us that whatever happens to California -- smog, road rage, tofu, coffee that is mainly air, cell phones, the belief that abdominal muscles are attractive, Shirley MacLaine, people taking in-line skating seriously, grandmothers sporting new and flagrantly inappropriate bosoms -- eventually happens to the rest of the nation. Thus it is vital that we analyze the California electricity shortage and see if we can develop a workable solution before we become bored and change the subject. Our first question is: What, exactly, is electricity? When we look in our Microsoft Encarta encyclopedia, we see that "electricity" is defined as a "class of physical phenomena resulting from the existence of charge and from the interaction of charges." What does this mean, in lay-person's terms? It means that whoever wrote the Microsoft Encarta encyclopedia is a big, fat dope. Because we know from our junior-high-school science training that electricity is actually a fast-moving herd of electrons, which are tiny one-celled animals that can survive in almost any environment except inside a double-A battery, where they die within minutes. Electrons are formed when clouds rub together and become excited. This was proved in the famous experiment wherein Benjamin Franklin flew a kite during a thunderstorm and was almost killed. Encouraged by this success, Franklin went on to conduct many more electrical experiments, including rolling a hoop in a thunderstorm, playing hopscotch in a thunderstorm and doing somersaults in a thunderstorm. Finally one night he was caught wearing only a bonnet and playing Mister Pooter Rides the Pony in a thunderstorm, leaving the authorities with no choice but to arrest him and make him ambassador to France. Nevertheless, Franklin had proved an important scientific point, which is that electricity originates inside clouds. There it forms into lightning, which is attracted to the earth by golfers. After entering the ground, the electricity hardens into coal, which, when dug up by power companies and burned in big ovens called "generators," turns back into electricity, which is sent in the form of "volts" (also known as "watts," or "rpm" for short) through special wires with birds sitting on them to consumers' homes, where it is transformed by TV sets into commercials for beer, which passes through the consumers and back into the ground, thus completing what is known as a "circuit." But enough technical talk. The problem is that California is running out of electricity. The situation is so bad that in some hospitals, they don't have enough electricity to power those electric-shock paddles that get people's hearts started again; instead, the doctors and nurses have to hold hands, scuff their feet across the carpet in unison, then shout "CLEAR!" as they touch the patient's chest. Who is responsible for California's electricity shortage? You could blame the power companies; or you could blame environmental wackos; or you could blame the entertainment industry, which uses more than 750 billion watts of electricity per day just to blow-dry the hair of the cast of Dawson's Creek; or you could blame (why not?) the Firestone tire company. But you would be wrong. Because obviously the real cause of the California electricity shortage is: college students. I base this statement on widespread observation of my son, who is a college student, and who personally consumes more electricity than Belgium. If my son is in a room, then every electrical device within 200 yards of that room -- every light, computer, television, stereo, video game, microwave oven, etc. -- will be running. My son doesn't even have to turn the devices on; they activate themselves spontaneously in response to his presence. Now take my son and multiply him by the number of college students in California, which according to my research is (EDITOR: Please insert number of college students in California) and you see my point, which is (EDITOR: Please insert my point). The question is: What can the rest of us do to help our fellow countrypersons in California? The answer is that we can send them our spare electricity. Just imagine what would happen if all the households in this great and generous nation got out their extension cords and connected them together, forming a giant electrical "chain of helping" across the fruited plain to the Golden State! Millions of people would be turned into generous smoking lumps of carbon, that's what. So maybe we should go with Plan B. This involves building a really, really, really big kite. Knight-Ridder Tribune
Ray's take on this is consistent with the EPSA write up on the hearing. Ray Alvarez 05/07/2001 03:49 PM To: "Ronald Carroll" <rcarroll@bracepatt.com> cc: <mmilner@coral-energy.com>, <rreilley@coral-energy.com>, <ray.alvarez@ei.enron.com>, <acomnes@enron.com>, <cyoder@enron.com>, <dfulton@enron.com>, <jdasovic@enron.com>, <jsteffe@enron.com>, <linda.robertson@enron.com>, <rshapiro@enron.com>, <smara@enron.com>, <snovose@enron.com>, <steve.c.hall@enron.com>, <gackerman@wptf.org> Subject: Re: Fwd: Murkowski Challenges Capitalists To Cap Runaway Power Prices In CA I attended the Senate hearing, and Murkowski strongly supported FERC's decision and was anti- price cap throughout the hearing. In my opinion, the author of this article misinterpreted what was going on at the end of the hearing. Commissioner Massey was trying to offer up a letter supporting price caps, to be placed into the record. My take is that Murkowski didn't want the letter and, being totally skeptical of the financeability of infrastructure under price caps, challenged Massey to come back with support from the financial community for price caps. "Ronald Carroll" <rcarroll@bracepatt.com> on 05/07/2001 01:16:37 PM To: <mmilner@coral-energy.com>, <rreilley@coral-energy.com>, <ray.alvarez@ei.enron.com>, <acomnes@enron.com>, <cyoder@enron.com>, <dfulton@enron.com>, <jdasovic@enron.com>, <jsteffe@enron.com>, <linda.robertson@enron.com>, <rshapiro@enron.com>, <smara@enron.com>, <snovose@enron.com>, <steve.c.hall@enron.com>, <gackerman@wptf.org> cc: Subject: Fwd: Murkowski Challenges Capitalists To Cap Runaway Power Prices In CA ----- Message from "Tracey Bradley" <tbradley@bracepatt.com> on Mon, 07 May 2001 10:49:32 -0500 ----- To: "Justin Long" <jlong@bracepatt.com> cc: "Aryeh Fishman" <afishman@bracepatt.com>, "Andrea Settanni" <asettanni@bracepatt.com>, "Charles Ingebretson" <cingebretson@bracepatt.com>, "Charles Shoneman" <cshoneman@bracepatt.com>, "Deanna King" <dking@bracepatt.com>, "Dan Watkiss" <dwatkiss@bracepatt.com>, "Gene Godley" <ggodley@bracepatt.com>, "Kimberly Curry" <kcurry@bracepatt.com>, "Michael Pate" <mpate@bracepatt.com>, "Paul Fox" <pfox@bracepatt.com>, "Ronald Carroll" <rcarroll@bracepatt.com> Subject: Murkowski Challenges Capitalists To Cap Runaway Power Prices In CA FYI Murkowski Challenges Capitalists To Cap Runaway Power Prices In CA In what some observers believe could be a watershed change in rhetoric, Senate energy policy leader Frank Murkowski (R-AK) is berating the capital community for not coming forward and detailing what kind of ceiling on wholesale power prices it would take to insure adequate generation -- but head off continued economic damage to the state of California. The criticism signals that the chairman of the Senate Energy and Natural Resources Committee has grown impatient with the hail of philosophical charges and counter-charges that have followed FERC's April 26 order on the California market and is turning elsewhere than FERC for a solution. Sources also say it may be a signal that there is a majority on his committee that would support some kind of legislative control on the wholesale power market in the West. "I am issuing an admonition to the financial community," Murkowski said at the conclusion of a hearing on the recent FERC order. "If the financial community will come in and say what terms and conditions they will need to bring new generation into the state, we can cut through this chatter." Among other provisions, the FERC order institutes a plan for price controls during Stage 1 and higher power emergencies. Lawmakers at the hearing, especially from California and the West, criticized the action as insufficient to prevent price gouging. FERC Chairman Curt Hebert said the limited nature of the price controls will continue to provide the power industry with incentives to build power plants in California. Murkowski called on financial interests attending the hearing to settle the debate. "Tells us what you will or will not do under a price cap," said Murkowski. Murkowski indicated that the answer to his question should come directly from top figures in the financial community. Murkowski also signaled that Congress may step in and take legislative action on the California crisis. "We have to question the adequacy of the order and introduce legislation to address problems if necessary," Murkowski said. The sentiment was echoed by other members of the Committee. "We cannot allow our government to sit idly by and allow a tragically flawed and easily manipulated power market wreak havoc on our economy," Sen. Maria Cantwell told Hebert. "If you're not going to take action, Congress is going to act." All three FERC commissioners testified at the hearing but it was Chairman Curt Hebert who was on the receiving end of most of the criticism. "FERC has done a wonderful imitation of a potted plant," Sen. Byron Dorgan (D-ND) told Hebert. "Regulation is not a four letter word. The market system sometimes gets out of wack. Commissioner William Massey also criticized FERC's order, and acted as counterpoint to Hebert throughout the hearing. Commissioner Linda Breathitt defended her support of the April 26 order. "One thing is clear, you all don't get along very well," observed Dorgan. "I'm amazed at what's been done," said Murkowski in defending FERC's action over the past several weeks. "It's better than nothing." "I've been disappointed," replied Dorgan. "I hope FERC decides it's a regulatory body and steps up and takes some action." Sen. Feinstein suggested to Hebert that FERC take a closer look at the impact of skyrocketing natural gas prices on the exorbitant increase in electricity prices in California. In response, Hebert announced that FERC was holding a technical conference May 24 on current and projected natural gas pipelines into California. "I agree that this is a natural gas situation and we intend to look into this as well," Hebert said. Source: EnergyWashington.com Date: May 4, 2001 , Inside Washington Publishers
------------------------------------------------------------------------------ ------------------------ W E E K E N D S Y S T E M S A V A I L A B I L I T Y F O R May 18, 2001 5:00pm through May 21, 2001 12:00am ------------------------------------------------------------------------------ ------------------------ SCHEDULED SYSTEM OUTAGES: ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages. AZURIX: No Scheduled Outages. EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages. EDI SERVER: No Scheduled Outages. ENRON CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages ENRON NORTH AMERICAN LANS: No Scheduled Outages. FIELD SERVICES: No Scheduled Outages. INTERNET: Impact: Internet Time: Fri 5/18/2001 at 10:30:00 PM CT thru Fri 5/18/2001 at 11:30:00 PM CT Fri 5/18/2001 at 8:30:00 PM PT thru Fri 5/18/2001 at 9:30:00 PM PT Sat 5/19/2001 at 4:30:00 AM London thru Sat 5/19/2001 at 5:30:00 AM London Outage: Upgrade IOS on ENEFW4 Environments Impacted: Internet Purpose: The new code has bug fixes and stateful failover feature. Backout: Revert back to old IOS. Contact(s): John Shupak 713-853-7943 Bryan Aubuchon 713-345-8446 MESSAGING: Impact: Corp Notes Time: Fri 5/18/2001 at 9:00:00 PM CT thru Sat 5/19/2001 at 1:00:00 AM CT Fri 5/18/2001 at 7:00:00 PM PT thru Fri 5/18/2001 at 11:00:00 PM PT Sat 5/19/2001 at 3:00:00 AM London thru Sat 5/19/2001 at 7:00:00 AM London Outage: cNotes Server Reboots Environments Impacted: All users on any of the mailservers listed below Purpose: Scheduled @ 2 week interval Backout: Make sure server comes up. Contact(s): Trey Rhodes (713) 345-7792 Impact: EI Time: Fri 5/18/2001 at 9:00:00 PM CT thru Sat 5/19/2001 at 1:00:00 AM CT Fri 5/18/2001 at 7:00:00 PM PT thru Fri 5/18/2001 at 11:00:00 PM PT Sat 5/19/2001 at 3:00:00 AM London thru Sat 5/19/2001 at 7:00:00 AM London Outage: EI Notes Server Maintenance Environments Impacted: EI Local/Domestic/Foreign Sites Purpose: Scheduled @ 2 week interval Backout: N/A Contact(s): David Ricafrente 713-646-7741 MARKET DATA: Impact: CORP Time: Wed 5/16/2001 at 4:45:00 PM CT thru Wed 5/23/2001 at 4:45:00 PM CT Wed 5/16/2001 at 2:45:00 PM PT thru Wed 5/23/2001 at 2:45:00 PM PT Wed 5/16/2001 at 10:45:00 PM London thru Wed 5/23/2001 at 10:45:00 PM London Outage: Market Data Cable Management EB3460 Environments Impacted: All Trading Groups Purpose: Improve computer room environment. Perform cable management in order to comply with computer room standards. Backout: N/A Contact(s): John Sieckman 713-345-7862 NT: No Scheduled Outages. OS/2: No Scheduled Outages. OTHER SYSTEMS: Impact: Corp, OTS, ETS DATE: MAY 29, 2001/2/2001 at 5:30:00 PM Outage: Migrate DSS Server to GTHOU-APPSQ03P Environments Impacted: DSS users will not be able to access the old server (ENEDS01_ADAPT)after this date Purpose: The existing server is outdated, migrating to SQL 2000 provides increased functionality and conforms to database platform requirements. Backout: Contact(s): Mary Vollmer 713-853-3381 Joe Hellsten 713-853-7346 713-545-4164 Impact: CORP Time: Sat 5/19/2001 at 10:00:00 AM CT thru Sat 5/19/2001 at 4:00:00 PM CT Sat 5/19/2001 at 8:00:00 AM PT thru Sat 5/19/2001 at 2:00:00 PM PT Sat 5/19/2001 at 4:00:00 PM London thru Sat 5/19/2001 at 10:00:00 PM London Outage: Moving Production Database TDSPROD Environments Impacted: ENA Purpose: This database is being moved to give the space it is currently using to the Enpower database on that server. The new server Refraction will also allow TDSPROD to expand as well. Backout: The old instance will be restarted and the TNSNAMES.ORA entry will be changed to point at the old instance. Contact(s): John Jahnke 713-345-4398 Impact: CORP Time: Sat 5/19/2001 at 9:00:00 PM CT thru Sun 5/20/2001 at 12:00:00 AM CT Sat 5/19/2001 at 7:00:00 PM PT thru Sat 5/19/2001 at 10:00:00 PM PT Sun 5/20/2001 at 3:00:00 AM London thru Sun 5/20/2001 at 6:00:00 AM London Outage: Resource addition for server moe. Environments Impacted: Sitara, PEP, Global Purpose: Server is memory and cpu constrained. Backout: Shutdown the server and revert to old configuration. Contact(s): Malcolm Wells 713-345-3716 SITARA: Also see above Impact: CORP Time: Sat 5/19/2001 at 2:00:00 PM CT thru Sun 5/20/2001 at 12:00:00 AM CT Sat 5/19/2001 at 12:00:00 PM PT thru Sat 5/19/2001 at 10:00:00 PM PT Sat 5/19/2001 at 8:00:00 PM London thru Sun 5/20/2001 at 6:00:00 AM London Outage: Resource additionto Sitara server aurora. Environments Impacted: Sitara production Purpose: Add needed cpu and memory. Backout: Remove the newly added resources and restart under the old config. Contact(s): Malcolm Wells 713-345-3716 SUN/OSS SYSTEM: No Scheduled Outages. TELEPHONY: No Scheduled Outages TERMINAL SERVER: No Scheduled Outages. UNIFY: Impact: CORP Time: Fri 5/18/2001 at 3:00:00 PM thru Sun 5/20/2001 at 11:45:00 PM Outage: Unify Power Production Server Maintenance Environments Impacted: Unify Users Purpose: Infrastructure required maintenance Backout: Contact(s): Brian Ripley 713-345-4709 Charles Ballmer 713-853-0684 Bob Ward 713-345-4409 SCHEDULED SYSTEM OUTAGES: Australia Impact: CORP Time: Sat 19-May-2001 at 10:00:00 AM Sydney thru Sat 19-May-2001 at 3:00:00 PM Sydney Sat 19-May-2001 at 1:00:00 AM GMT (London) thru Sat 19-May-2001 at 6:00:00 AM GMT (London) Fri 5/19/2001 at 7:00:00 PM CT (Houston) thru Sun 5/20/2001 at 12:00:00 AM CT (Houston) Fri 5/19/2001 at 5:00:00 PM PT (Portland) thru Sat 5/19/2001 at 10:00:00 PM PT (Portland) Outage: Sydney UPS Test & Service Environments Impacted: Corp Sydney - all systems Purpose: Original UPS needs testing & service. Will require Server Room to be de-powered to allow maintenance. Backout: Plug equipment into unconditioned power. Contact(s): Colin Wood +61-416-248-353 Elliott Katz +61-292-292-309 ------------------------------------------------------------------------------ ------------------------------------------------------- FOR ASSISTANCE (713) 853-1411 Enron Resolution Center Specific Help: Information Risk Management (713) 853-5536 SAP/ISC (713) 345-4727 Unify On-Call (713) 284-3757 [Pager] Sitara On-Call (713) 288-0101 [Pager] RUS/GOPS/GeoTools/APRS (713) 639-9726 [Pager] OSS/UA4/TARP (713) 285-3165 [Pager] CPR (713) 284-4175 [Pager] EDI Support (713) 327-3893 [Pager] EES Help Desk (713)853-9797 OR (888)853-9797
OK, it seems like everyone is making up for lost time tonight. Go home! Kimzey, let's go drink! -----Original Message----- From: Andrew Slocum [mailto:AndrewS@calpine.com] Sent: Monday, June 05, 2000 10:49 PM To: 'Kimzey, Bryan'; 'Mark A. Junell'; Andrew Slocum; 'Nicholas Johnston-Advisory'; Rpaddock@hotmail.com; Espinosa_Miguel@gsb.stanford.edu; Jbavouse@bpl.com; Clintc@rocketball.com; Grimes@ncwd.net; Tyler.Hearon@nyc.rabobank.com; Cmcwhert@bankunited.com; Ed_Solari@enron.com; Wexler@pdq.net; Warren_Prescott@hotmail.com; Ben Rogers (E-mail) Subject: RE: Many thanks to Miquel Kimzey, you did alright my man! -----Original Message----- From: Kimzey, Bryan [mailto:bryan.kimzey@csfb.com] Sent: Monday, June 05, 2000 9:38 PM To: 'Mark A. Junell'; Andrew Slocum; 'Nicholas Johnston-Advisory'; Rpaddock@hotmail.com; Espinosa_Miguel@gsb.stanford.edu; Jbavouse@bpl.com; Clintc@rocketball.com; Grimes@ncwd.net; Tyler.Hearon@nyc.rabobank.com; Cmcwhert@bankunited.com; Ed_Solari@enron.com; Wexler@pdq.net; Warren_Prescott@hotmail.com; Ben Rogers (E-mail) Subject: RE: Many thanks to Miquel What the hell happened this weekend? All I can say right now is thank you to everybody who showed up and made this weekend one of the most fun memories ever. And thanks to Miguel and Blake again for organizing everything; I couldn't have done it without y'all. Once I can put more full sentences together, I'll write more. Thanks again. - Bryan ps If anybody has seen my Carolina shirt, my cell phone charger, my American Express card and/or my voice, please bring them to my wedding, too. > -----Original Message----- > From: Mark A. Junell [SMTP:mark@junell.cc] > Sent: Monday, June 05, 2000 10:22 PM > To: Andrew Slocum; 'Nicholas Johnston-Advisory'; Rpaddock@hotmail.com; > Espinosa_Miguel@gsb.stanford.edu; Jbavouse@bpl.com; Clintc@rocketball.com; > Grimes@ncwd.net; Tyler.Hearon@nyc.rabobank.com; Cmcwhert@bankunited.com; > Ed_Solari@enron.com; Wexler@pdq.net; Brian.Jinks@bus.utexas.edu; > Bmartin@texas.net; Warren_Prescott@hotmail.com; Bryan.Kimzey@csfb.com > Subject: RE: Many thanks to Miquel > > Yea thanks Miguel. I feel like dog sh*t. > > -----Original Message----- > From: Andrew Slocum [mailto:AndrewS@calpine.com] > Sent: Monday, June 05, 2000 7:13 AM > To: 'Nicholas Johnston-Advisory'; Rpaddock@Hotmail.Com; > Espinosa_Miguel@Gsb.Stanford.Edu; Jbavouse@Bpl.Com; > Clintc@Rocketball.Com; Grimes@Ncwd.Net; Tyler.Hearon@Nyc.Rabobank.Com; > Cmcwhert@Bankunited.Com; Andrew Slocum; Ed_Solari@Enron.Com; > Wexler@Pdq.Net; Brian.Jinks@Bus.Utexas.Edu; Bmartin@Texas.Net; > Warren_Prescott@Hotmail.Com; Bryan.Kimzey@Csfb.Com; mark@junell.cc > Subject: RE: Many thanks to Miquel > > > If you remember, please bring the elvis sunglasses to Kimzey's wedding. I > second the motion to Miguel. Wexler did a remarkable show yesterday > evening, which included a lot of big easy chatter. > > Out > > -----Original Message----- > From: Nicholas Johnston-Advisory [mailto:johnston_nicholas@jpmorgan.com] > Sent: Monday, June 05, 2000 6:46 AM > To: Rpaddock@Hotmail.Com; Espinosa_Miguel@Gsb.Stanford.Edu; > Jbavouse@Bpl.Com; Clintc@Rocketball.Com; Grimes@Ncwd.Net; > Tyler.Hearon@Nyc.Rabobank.Com; Cmcwhert@Bankunited.Com; > Andrews@Calpine.Com; Ed_Solari@Enron.Com; Wexler@Pdq.Net; > Brian.Jinks@Bus.Utexas.Edu; Bmartin@Texas.Net; > Warren_Prescott@Hotmail.Com; Bryan.Kimzey@Csfb.Com; mark@junell.cc > Subject: Many thanks to Miquel > > > Great weekend - thanks to Miquel for getting us all there and hopefully > Kimzey > will now not miss the wonders of bachelorhood too much. > > Found a camera - digital one in 317 - also have the elvis sun glasses - if > the > rightful owner would like to step forward - and yes we know who you are. > > Cheers > Nick > > > > This communication is for informational purposes only. It is not intended > as > an offer or solicitation for the purchase or sale of any financial > instrument > or as an official confirmation of any transaction. All market prices, data > and other information are not warranted as to completeness or accuracy and > are subject to change without notice. Any comments or statements made > herein > do not necessarily reflect those of J.P. Morgan & Co. Incorporated, its > subsidiaries and affiliates. > This message is for the named person's use only. It may contain confidential, proprietary or legally privileged information. No confidentiality or privilege is waived or lost by any mistransmission. If you receive this message in error, please immediately delete it and all copies of it from your system, destroy any hard copies of it and notify the sender. You must not, directly or indirectly, use, disclose, distribute, print, or copy any part of this message if you are not the intended recipient. CREDIT SUISSE GROUP and each of its subsidiaries each reserve the right to monitor all e-mail communications through its networks. Any views expressed in this message are those of the individual sender, except where the message states otherwise and the sender is authorised to state them to be the views of any such entity. ================================================================== De informatie opgenomen in dit bericht kan vertrouwelijk zijn en is uitsluitend bestemd voor de geadresseerde. Indien u dit bericht onterecht ontvangt wordt u verzocht de inhoud niet te gebruiken en de afzender direct te informeren door het bericht te retourneren. ================================================================== The information contained in this message may be confidential and is intended to be exclusively for the addressee. Should you receive this message unintentionally, please do not use the contents herein and notify the sender immediately by return e-mail. ==================================================================
_________________________________________________________________ B R E A K F A S T W I T H T H E F O O L Wednesday, November 15, 2000 benjamin.rogers@enron.com _________________________________________________________________ REGISTER TO BECOME A FOOL -- GET FREE STUFF! http://www.fool.com/m.asp?i=195694 _________________________________________________________________ Sponsored By: iShares iShares(SM). New tools that combine elements of stocks and index funds! Over 50 indexes tracked. Trade like stocks at market prices. For a prospectus, visit ishares.com. http://www.lnksrv.com/m.asp?i=195695 "If winning isn't everything, why do they keep score?" -- Vince Lombardi ANALOG DEVICES' STRONG Q4 Circuit maker Analog Devices reported estimate-beating Q4 results yesterday. By LouAnn Lofton Integrated circuit maker Analog Devices (NYSE: ADI) reported fourth-quarter and fiscal year-end results yesterday after the bell. The company earned $0.54 a share in the fourth quarter, ahead of the First Call/Thompson Financial consensus estimate by $0.04. In last year's fourth quarter, Analog Devices earned $0.20. Sales for the quarter were up 87% to $806 million from $431 million in the year-ago period. Net income increased to $206.5 million, compared to $73.2 million last year. The company's gross margin improved during the quarter to 58.6% from 52.2%. For the fiscal year, Analog Devices earned $588.8 million on sales of $2.58 billion. In the previous fiscal year, the company's sales were $1.45 billion, and its net income was $204.8 million. On a per-share basis, Analog Devices earned $1.54 a share in fiscal 2000, versus $0.57 in fiscal 1999. The company also announced yesterday that it will be repurchasing up to 15 million shares of its common stock. Currently, there are about 356 million shares of Analog Devices common stock outstanding. The shares are being bought back for use in the company's stock option plans, as well as other employee stock-based benefit plans. Looking ahead to the first quarter of its new fiscal year, Analog Devices expects 7-10% sequential revenue growth. The company sees first-quarter earnings per share to come in between $0.58 and $0.60 a share. The current consensus estimate for Analog Devices' first quarter is $0.54. The company says it believes its revenue growth will be constrained by supply, not demand. Analog Devices' President and CEO Jerald G. Fishman said, "Our first look for the entire year of fiscal 2001 is also very encouraging. We currently believe that fiscal 2001's revenues could exceed fiscal 2000's by more than 50%, which would result in fiscal 2001 revenues of more than $3.8 billion." _________________________________________________________________ NEWS TO GO In an SEC filing yesterday, it was disclosed that the man who has for so long believed in Coca-Cola (NYSE: KO) also apparently believes at least a little in Pepsi (NYSE: PEP). Warren Buffett's company Berkshire Hathaway (NYSE: BRK.A) has acquired about a 1% stake in Tricon Global Restaurants (NYSE: YUM), the Pepsi spin-off that includes fast-food restaurants Pizza Hut, Taco Bell, and KFC. Close to 98% of those restaurants serve Pepsi products. Buffett owns 8.1% of Coca-Cola and is also a director for the company. Ford Motor Company (NYSE: F) said yesterday that it will allow customers ordering new 2001 Explorers to elect to have Goodyear tires on their vehicles over the standard Firestones. This move formally allows customers to have the new Explorers delivered with Goodyear tires, as opposed to switching off the Firestones for the Goodyears before the purchase. It's estimated that between 5-10% of Explorer customers have been asking dealers to change the tires on their new trucks before driving them off of the lot, thanks to the Firestone recall of 6.5 million tires. In states where the tire problems were the worst, up to 40% of customers have been asking for the switch. E-commerce software company BEA Systems (Nasdaq: BEAS) reported third-quarter earnings yesterday after the bell. The company's pro forma net income was $31.3 million, or $0.07 a share. Last year, the company's pro forma net income was $10.4 million, or $0.03 a share. BEA beat the consensus estimate according to First Call/Thompson Financial by a penny. Revenues grew 77% to $244 million, from last year's $126.5 million. Optical networking company Sycamore Networks (Nasdaq: SCMR) announced fiscal first-quarter results after the market's close yesterday. Sycamore's pro forma net income was $6 million, or $0.02 a diluted share, for the quarter. Last year, it lost $4.1 million, or $0.02 a share, in the first quarter. The company earned a penny more than analysts had expected. Revenues grew by 517% to $120.4 million, compared to the year-ago period's $19.5 million. _________________________________________________________________ EDITORS' PICK Our writers love to share their opinions, so we asked them to provide a list of blue-chip stocks they find interesting. http://www.fool.com/m.asp?i=195696 _______________________________________________________________ -News & Commentary http://www.fool.com/m.asp?i=195697 -Fool Community http://www.fool.com/m.asp?i=195698 -Post of the Day http://www.fool.com/m.asp?i=195699 -Latest Fribble http://www.fool.com/m.asp?i=195700 -Latest Market Numbers http://www.fool.com/m.asp?i=195701 ____________________________________________________________ My Portfolio: http://www.fool.com/m.asp?i=195702 My Discussion Boards: http://www.fool.com/m.asp?i=195703 My Fool: http://www.fool.com/m.asp?i=195704 Fool.com Home: http://www.fool.com/m.asp?i=195705 My E-Mail Settings: http://www.fool.com/m.asp?i=195706 Sponsored By: iShares iShares(SM). New tools that combine elements of stocks and index funds! Over 50 indexes tracked. Trade like stocks at market prices. For a prospectus, visit ishares.com. http://www.lnksrv.com/m.asp?i=195707 FREE BOOK, JUST FOR FOOLS! Investor's Business Daily will send you a free copy of 24 Essential Lessons for Investment Success when you sign up for a free trial subscription of their newspaper. http://www.lnksrv.com/m.asp?i=195708 INVESTMENT OPPORTUNITIES IN STEM CELLS Get a free preview of this new report at Soapbox.com. http://www.lnksrv.com/m.asp?i=195709 FOOL DIRECT E-MAIL SERVICES Need to change your address or unsubscribe? You can also temporarily suspend mail delivery. Click here: http://www.fool.com/community/freemail/freemaillogin.asp?email=benjamin.rogers @enron.com> Have ideas about how we can improve the Fool Direct or new e-mail products you'd like to see? Try our discussion board: http://www.fool.com/m.asp?i=195710 ____________________________________________________ (c) Copyright 2000, The Motley Fool. All rights reserved. This material is for personal use only. Republication and redissemination, including posting to news groups, is expressly prohibited without the prior written consent of The Motley Fool. . MsgId: msg-30398-2000-11-15_9-09-57-3299769_2_Plain_MessageAddress.msg-09:14:04(11-15 -2000) X-Version: mailer-sender-master,v 1.84 X-Version: mailer-sender-daemon,v 1.84 Message-Recipient: benjamin.rogers@enron.com
----- Forwarded by James D Steffes/NA/Enron on 03/15/2001 03:58 PM ----- Linda Robertson 03/15/2001 02:53 PM To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Janel Guerrero/Corp/Enron@Enron cc: Subject: Senators Dianne Feinstein and Gordon Smith Announce Partnership in Response to the Western Energy Crisis Bad development. We are trying to get Steve an appointment with Smith next Tuesday. ----- Forwarded by Linda Robertson/NA/Enron on 03/15/2001 03:51 PM ----- Allison Navin 03/15/2001 03:46 PM To: Linda Robertson/NA/Enron@ENRON cc: Subject: Senators Dianne Feinstein and Gordon Smith Announce Partnership in Response to the Western Energy Crisis Senators Dianne Feinstein and Gordon Smith Announce Partnership in Response to the Western Energy Crisis March 15, 2001 Washington, DC - Senators Dianne Feinstein (D-CA) and Gordon Smith (R-OR) today announced an agreement to introduce bipartisan legislation to restore stability and reliability to the Western energy market by directing the Federal Energy Regulatory Commission (FERC) to impose a temporary &just and reasonable8 wholesale rate cap or cost-of-service based rates. The legislation will also require the states involved in this effort to pass on the cost of the electricity to retail customers. However, the states would be able to determine how and when this would be done. In other words, California could choose to use tiered-pricing, real-time pricing or set a baseline rate above which prices would be passed through. &We now have a piece of legislation that can fix the broken electricity market and provide a period of reliability and stability in wholesale energy costs,8 Senator Feinstein said. &FERC has found the wholesale prices being charged in California to be unjust and unreasonable. This legislation essentially will mandate that once FERC makes such a finding, the agency will carry out its regulatory role. This is a $175 million a year agency. It is there to regulate the energy marketplace, and it should. What the Federal government can do is to provide a period of reliability and stability at a time of crisis. Unfortunately FERC has refused to do so.8 &California,s broken electricity market is a result of a flawed 1996 California law that deregulated wholesale costs, but left in place caps on retail prices. This was coupled with a requirement that the utilities divest themselves of their generating capacity and buy most of their electricity on the spot market, where prices have escalated dramatically. In hindsight all of this came together in a catastrophic scenario, so that today, California buys electricity at astronomical prices. We believe that FERC needs to act to help restore reasonable costs and stability to this marketplace.8 &Additionally, this agreement addresses the escalation of natural gas transportation costs. Last February, FERC began a two-year experiment to lift the cap on these costs and since that time we have seen the price of natural gas climb 400 percent higher in Southern California.8 Senator Feinstein added. Specifically, the compromise legislation would accomplish the following goals: Directs FERC to impose a just and reasonable wholesale rate cap, which can be load-differentiated based on supply and demand, or cost-of-service-based rates in the Western energy market (Western Systems Coordinating Council, including Arizona, California, Colorado, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming.) Addresses the issue of high natural gas transmission costs by reimposing FERC tariffs for natural gas transportation into California (FERC Order 637) and requiring natural gas sellers to declare separately the transportation and commodity components of the bundled rate for gray market transactions. Stipulates that the wholesale price cap or cost-of-service based rate will not apply to wholesale sales for delivery in a state that imposes a price limit on the sale of electric energy at retail that: precludes a regulated utility from recovering costs under the price cap or on a cost-of service based rate; or precludes a regulated utility from paying its bills. Establishes that the rate-making body of a state can determine how and when the wholesale rates will be passed on to ratepayers, including the setting of tiered pricing, real time pricing, and baseline rates. (With respect to the Bonneville Power Administration, BPA will be encouraged to seek to reduce rate spikes to economically distressed communities, while ensuring costs are recovered by the end of the next contract period in 2006.) Directs that after the date of enactment, utilities cannot be ordered to sell electricity or natural gas into a state without a determination by the Federal Energy Regulatory Commission that the seller will be paid. Directs that in the event that a state in the Western energy market does not meet the criteria described in this agreement, state public utilities commissions in the Western energy market can ensure that regulated utilities within their jurisdiction meet demand for electric energy in the utility,s service area before making sales into any such state. Establishes that the wholesale rate cap or cost-of-service based rates shall remain in effect until such time as the market for electric energy in the western energy market reflects just and reasonable rates, as determined by the Commission or until March 1, 2003, whichever is earlier.
I have done this already, but thanks for the offer. Jean -----Original Message----- From: Janzen, Randy Sent: Tuesday, November 27, 2001 4:16 PM To: Buchanan, John; Berger, Larry; Bodnar, Michael; Kowalke, Terry; Schoolcraft, Darrell; Spraggins, Gary; Zadow, Raetta; Adams, Jean; Barry, Patrick; Benningfield, Robert; Blair, Jean; Bryan, Randy; Callans, Nancy; Carr, James; Clapper, Karen; Forbish, Sherry; Greaney, Chris; Hibbard, Scott; Linhart, Joe; McDaniel, Janet; Perry, Renee; Porter, Diana; Scurlock, Debra; Sturr, Kathy; Vaughan, Cara; Walden, Shirley; Washington, Kathy; Wilkens, Jerry; Woodson, Harry Cc: Blair, Lynn Subject: RE: Marketing Dashboard Access I have created guidelines on how to do this. If you need to use them please feel free to come by my office or if you need some help I would be glad to help anyone who needs some. Randy J. -----Original Message----- From: Buchanan, John Sent: Thursday, November 08, 2001 9:27 AM To: Berger, Larry; Bodnar, Michael; Kowalke, Terry; Schoolcraft, Darrell; Spraggins, Gary; Zadow, Raetta; Adams, Jean; Barry, Patrick; Benningfield, Robert; Blair, Jean; Bryan, Randy; Callans, Nancy; Carr, James; Clapper, Karen; Forbish, Sherry; Greaney, Chris; Hibbard, Scott; Janzen, Randy; Linhart, Joe; McDaniel, Janet; Perry, Renee; Porter, Diana; Scurlock, Debra; Sturr, Kathy; Vaughan, Cara; Walden, Shirley; Washington, Kathy; Wilkens, Jerry; Woodson, Harry Cc: Blair, Lynn Subject: FW: Marketing Dashboard Access Lynn wants all the Customer Service Reps. to have access to the Dashboard. I cant send a single request for the teams so please follow the below instructions to request access to the Dashboard. -----Original Message----- From: McCary, Sandy Sent: Wednesday, November 07, 2001 6:33 PM To: Buchanan, John; Janousek, Martha Cc: Blair, Lynn; Kowalke, Terry Subject: RE: Marketing Dashboard Access Please use e-Request ( <http://itcentral.enron.com/data/home/> ) to obtain access to the ETS Marketing Dashboard. Once logged in, do the following Click on Update Account Access Choose Applications Region: ETS Application: ETS Dashboard Each individual desiring access to the Dashboard should submit an e-Request. If you have any questions, please give me a call. Thanks, Sandy McCary Enron Transportation Services - IT 713 853-5996 -----Original Message----- From: Buchanan, John Sent: Wed 11/7/2001 3:52 PM To: Janousek, Martha; McCary, Sandy Cc: Blair, Lynn; Kowalke, Terry Subject: RE: Marketing Dashboard Access Sandy, there around 48 persons that Lynn wants access to the Dashboard please let me know what I can do to facilitate the process. Thanks: John Buchanan -----Original Message----- From: Janousek, Martha Sent: Wednesday, November 07, 2001 3:19 PM To: Buchanan, John; McCary, Sandy Cc: Barker, Courtney; Mason, Robert; Blair, Lynn; Kowalke, Terry; Ferguson, Mark Subject: RE: Marketing Dashboard Access John - Sandy McCary is the 'IT Head Honcho' of the Dashboard and she can take good care of you ... (smile) .... Sandy - Please assist John Buchanan in setting up the list of Market Services' people with access to the Dashboard. Thanks so much! Martha -----Original Message----- From: Buchanan, John Sent: Wednesday, November 07, 2001 8:43 AM To: Blair, Lynn; Janousek, Martha; Kowalke, Terry Cc: Barker, Courtney; Mason, Robert Subject: RE: Marketing Dashboard Access Martha, I am back in the office so can you please let me know what you need to set the below mentioned person up for the Dashboard. I also had access at one time and can no longer access the Dashboard. John Buchanan -----Original Message----- From: Blair, Lynn Sent: Tuesday, November 06, 2001 6:43 AM To: Janousek, Martha; Buchanan, John; Kowalke, Terry Cc: Barker, Courtney; Mason, Robert Subject: RE: Marketing Dashboard Access Martha, I would rather give the teams access to the Dashboard. John Buchanan will be back in the office Wednesday. You can coordinate with him and Terry Kowalke to get everyone set up. Thanks. Lynn -----Original Message----- From: Janousek, Martha Sent: Monday, November 05, 2001 6:10 PM To: Blair, Lynn Cc: Barker, Courtney; Mason, Robert Subject: RE: Marketing Dashboard Access Lynn - Below is a list of people that Courtney Barker(in Marketing) sends a couple of reports on daily index prices to every month. Courtney is now posting these reports on the Marketing Dashboard. Would you like to give your employees below access to the Dashboard or does Courtney need to continue sending the reports via E:Mail? Please advise us and we will be glad to follow through. Thanks so much! Martha -----Original Message----- From: Barker, Courtney Sent: Monday, November 05, 2001 11:19 AM To: Janousek, Martha Subject: RE: Marketing Dashboard Access Yes, I am referring to the people in Market Services, here is a list of who I am sending it to: Jean Adams Robert Benningfield Sherry Forbish Chris Greaney Scott Hibbard Randy Janzen Terry Kowalke Joe Linhart Janet McDaniel Debra Scurlock Kathy Sturr Harry Woodson They all appear to be some form of Market Service Reps. Just let me know! Thanks, Courtney -----Original Message----- From: Janousek, Martha Sent: Monday, November 05, 2001 11:13 AM To: Barker, Courtney Cc: Brennan, Lorna; McCary, Sandy; Mason, Robert Subject: RE: Marketing Dashboard Access Courtney - Clarification on .... (They have indicated to me that they do not have access to the dashboard. Do we need to get them access to the dashboard or should I continue e-mailing them the report at the end of each month?) Are you referring to people in Market Services and if so, what level are they? Martha -----Original Message----- From: Barker, Courtney Sent: Monday, November 05, 2001 10:39 AM To: Janousek, Martha Cc: Brennan, Lorna; McCary, Sandy; Mason, Robert Subject: Marketing Dashboard Access Martha, As you know, Sandy McCary assisted me in getting my daily spot file report and MIP reports posted to the Marketing Dashboard. At the end of the month, I send the MIP files to about 12 people in Marketing Services. I am no longer e-mailing the report to people in Marketing, since most are using the dashboard. They have indicated to me that they do not have access to the dashboard. Do we need to get them access to the dashboard or should I continue e-mailing them the report at the end of each month? Thanks, Courtney Barker (402) 398-7130
Here is CERA's latest near term analysis. ---------------------- Forwarded by Lorna Brennan/ET&S/Enron on 10/27/2000 02:40 PM --------------------------- webmaster@cera.com on 10/26/2000 06:05:45 PM To: Lorna.Brennan@enron.com cc: Subject: Temporary Slack - CERA Alert ******************************************************************** CERA Alert: Sent Thu, October 26, 2000 ****************************************************************** Title: Temporary Slack Author: N. American Gas Team E-Mail Category: Alert Product Line: North American Gas , URL: http://www.cera.com/cfm/track/eprofile.cfm?u=5526&m=1402 , Alternative URL: http://www.cera.com/client/nag/alt/102600_15/nag_alt_102600_15_ab.html ******************************************************* Warm weather and strong storage injections have temporarily shifted the focus in the gas market away from a potential supply shortage this winter toward a growing sense that supplies might just prove adequate. The result has been a steady and steep decline in the November NYMEX price from $5.63 per MMBtu on October 12 into the $4.60s as of October 25. Cash prices have followed suit, falling from the mid- $5.50s to the $4.60s at the Henry Hub, and gas is now pricing below residual fuel oil in the Gulf Coast and especially on the East Coast. Although gas storage inventories will begin the winter at levels higher than expected, in CERA,s view adequate supply for the winter is not yet assured, and the market remains subject to a quick return to prices well above $5.00 with the first cold snap. Storage injections of 71 billion cubic feet (Bcf) for the week ended October 20 accompanied by broad-based and continuing warm weather have driven the shift in market psychology. Last week,s injection rate was 26.5 Bcf, or approximately 3.8 Bcf per day, above the previous five-year average for those seven days and 58 Bcf above the 13 Bcf of injections recorded last year for the week ending October 22. With warm weather this week and the return of more normal temperatures expected next week, CERA now expects storage to reach a maximum level of 2,784 Bcf on October 31--still an all-time low entering the winter, by 26 Bcf (see Table 1). Is this inventory level "enough"? Not yet. Storage inventories this winter under 15- year normal weather conditions would fall to approximately 780 Bcf, 22 Bcf above the previous all-time low. This end-of-March minimum implies total withdrawals in the United States this winter of 2.0 trillion cubic feet (Tcf), 128 Bcf above last year,s withdrawals. But holding withdrawals this winter down to 2.0 Tcf in the face of a return to normal weather--and the demand rebound of 3.0 Bcf per day it would bring--will be difficult. Although the beginning of a US supply rebound and growing imports will add approximately 1.0 Bcf per day to supplies this winter, holding withdrawals down requires both of the following: * Industrial markets--mainly ammonia and methanol producers--that are now shut down because of high gas prices must remain shut down. These markets represent approximately 0.5 Bcf per day of demand that could return, should gas prices moderate relative to ammonia and methanol. * The nearly 1.5 Bcf per day of switchable load now burning residual fuel oil must remain off of gas. In CERA,s view, for gas prices to fall below resid on a sustained basis, particularly as power loads increase this winter, it must become apparent that winter demand can be met, the current resid load can return to gas, and storage inventories can be held reasonably near the previous record low. That low, 758 Bcf, occurred in March 1996 and was accompanied by a February average price of $4.41 and a March average of $3.00 at the Henry Hub. That spring, however, US productive capability was nearly 4.0 Bcf per day greater than it is today, winter power generation demand was lower, and there were about 4.5 million fewer residential and commercial gas customers in the United States. Market fundamentals in CERA,s view still support gas prices above those of resid, which as of this writing is pricing in the $4.75-$5.00 per MMBtu range. Warm weather throughout November and into December could reverse this relationship, but a warm October alone is insufficient, and any cold weather within the next few weeks will quickly tighten the slack that has temporarily come into the market. CERA,s price outlook for November--an average of $5.50 at the Henry Hub-- stands for now. end Follow URL for PDF version of this Alert with associated table. ******************************************************* CERA's Autumn 2000 Roundtable event dates and agendas are now available at http://www.cera.com/event ***************************************************** ******************************************************************** Account Changes To edit your personal account information, including your e-mail address, etc. go to: http://eprofile.cera.com/cfm/edit/account.cfm This electronic message and attachments, if any, contain information from Cambridge Energy Research Associates, Inc. (CERA) which is confidential and may be privileged. Unauthorized disclosure, copying, distribution or use of the contents of this message or any attachments, in whole or in part, is strictly prohibited. Terms of Use: http://www.cera.com/tos.html Questions/Comments: webmaster@cera.com Copyright 2000. Cambridge Energy Research Associates
TODAY'S HEADLINES The New York Times on the Web Tuesday, May 8, 2001 ------------------------------------------------------------ For news updated throughout the day, visit www.nytimes.com QUOTE OF THE DAY ========================= "If you are H.I.V.-positive now, it doesn't mean you are dying. If you want to go to school, you should go to school. If you want to buy a car, you should buy a car." - DR. DAVID MARUMO, in Botswana, where the promise of access to AIDS drugs has brought new hope. Full Story: http://www.nytimes.com/2001/05/08/world/08BOTS.html NATIONAL ========================= Statewide Blackouts Ordered in California http://www.nytimes.com/2001/05/08/national/08CALI.html Officer Charged in Killing That Roiled Cincinnati http://www.nytimes.com/2001/05/08/national/08CINC.html Drug Spending Grows Nearly 19% http://www.nytimes.com/2001/05/08/national/08DRUG.html Forensic Expert Under Scrutiny as DNA Test Frees 'Rapist' http://www.nytimes.com/2001/05/08/national/08LAB.html /--------------------- ADVERTISEMENT ---------------------\ Unique Mother's Day Gift Idea! Get her a Rio500 MP3 Player for $49* and each month she can download any two audiobooks for only $12.95. Now she can enjoy listening to her favorite books without using those silly looking bifocals. Plus, she will be the "coolest" mom or grandmom on the block. MP3 Player - there not just for music anymore. http://www.audible.com/nyt/feboffer3 \---------------------------------------------------------/ POLITICS ========================= White House Selects Corporate Lawyer as Chairman of S.E.C. http://www.nytimes.com/2001/05/08/politics/08SEC.html Rumsfeld Plans to Seek a Military Strategy Using Outer Space http://www.nytimes.com/2001/05/08/world/08SPAC.html Bush Chides Critics and Declares Freer Trade a Moral Issue http://www.nytimes.com/2001/05/08/world/08PREX.html White House Says No 'Magic Wand' to Cut Gasoline Prices http://www.nytimes.com/aponline/national/AP-Bush-Gas.html INTERNATIONAL ========================= Rumsfeld Plans to Seek a Military Strategy Using Outer Space http://www.nytimes.com/2001/05/08/world/08SPAC.html Free AIDS Care Brings Hope to Botswana http://www.nytimes.com/2001/05/08/world/08BOTS.html U.S. Resumes Its Spy Flights Close to China http://www.nytimes.com/2001/05/08/world/08PLAN.html Bush Chides Critics and Declares Freer Trade a Moral Issue http://www.nytimes.com/2001/05/08/world/08PREX.html BUSINESS ========================= White House Selects Corporate Lawyer as Chairman of S.E.C. http://www.nytimes.com/2001/05/08/politics/08SEC.html Market Place: A Prayer for Tech Stocks http://www.nytimes.com/2001/05/08/technology/08PLAC.html Dell to Cut 10% of Work Force http://www.nytimes.com/2001/05/08/technology/08DELL.html Priceline Fires Chief and Shuffles Officials http://www.nytimes.com/2001/05/08/technology/08PRIC.html TECHNOLOGY ========================= Dell to Cut 10% of Work Force http://www.nytimes.com/2001/05/08/technology/08DELL.html Market Place: A Prayer for Tech Stocks http://www.nytimes.com/2001/05/08/technology/08PLAC.html In a Shift in Strategy, Apple Is Making Plans to Open Its First Stores http://www.nytimes.com/2001/05/08/technology/08APPL.html Priceline Fires Chief and Shuffles Officials http://www.nytimes.com/2001/05/08/technology/08PRIC.html NEW YORK REGION ========================= Mayor's Wife Wants His Friend Kept From Mansion http://www.nytimes.com/2001/05/08/nyregion/08GIUL.html Facing Scrutiny, President of Hale House Will Resign http://www.nytimes.com/2001/05/08/nyregion/08HALE.html Tempers Flare Near Deadline for Welfare http://www.nytimes.com/2001/05/08/nyregion/08WELF.html New Districts Imperil G.O.P. in New Jersey http://www.nytimes.com/2001/05/08/nyregion/08DIST.html SPORTS ========================= Fighting Devils Live to Play Another Day http://www.nytimes.com/2001/05/08/sports/08DEVI.html Rookie Wins as Mets Shut Down Late Rally http://www.nytimes.com/2001/05/08/sports/08METS-LATE.html Yankees Causing Havoc on the Bases http://www.nytimes.com/2001/05/08/sports/08YANK.html Yankees Bulk Up on Plankton http://www.nytimes.com/2001/05/08/sports/08BASE.html ARTS ========================= Court Considers Ownership of Seized 'Hitler' Paintings http://www.nytimes.com/2001/05/08/arts/08HITL.html MTV Gives 'Carmen' a Hip-Hop Update http://www.nytimes.com/2001/05/08/arts/08NOTE.html Spring Art Auctions Open at Phillips's New Home http://www.nytimes.com/2001/05/08/arts/08AUCT.html Museums as Walk-In Closets http://www.nytimes.com/2001/05/08/arts/08VISI.html OP-ED COLUMNISTS ========================= By GAIL COLLINS: Beam Me Up, Rummy Don't settle for a lousy missile shield. Romulan cloaking devices and transporter beams are obviously the way to go. http://www.nytimes.com/2001/05/08/opinion/08COLL.html By THOMAS L. FRIEDMAN: It Takes a Satellite The information revolution has offered young techies in Ghana a real chance to leap forward. http://www.nytimes.com/2001/05/08/opinion/08FRIE.html HOW TO CHANGE YOUR SUBSCRIPTION ------------------------------------------------------------ You received these headlines because you requested The New York Times Direct e-mail service. To cancel delivery, change delivery options, change your e-mail address or sign up for other newsletters, see http://www.nytimes.com/email HOW TO ADVERTISE ------------------------------------------------------------ For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact Alyson Racer at alyson@nytimes.com or visit our online media kit at http://www.nytimes.com/adinfo
that was cute!? thank you! i especially loved the list.... At 08:28 AM 12/12/2000 -0600, you wrote: ---------------------- Forwarded by Susan M Scott/HOU/ECT on 12/12/2000 08:23 AM --------------------------- ????????????????????????????????????????????????????? ?(Embedded???? Enron Capital & Trade Resources Corp.? ?image moved????????????????????????????????????????? ?to file:???? From:? "Emily Hillegeist"????????????? ?pic24766.pcx) <ehillegeist@hotmail.com>????????????? ?????????????? 12/12/2000 03:40 AM??????????????????? ????????????????????????????????????????????????????? ????????????????????????????????????????????????????? ????????????????????????????????????????????????????? To:?? sonderfan@hotmail.com, katyhester@hotmail.com, sscott5@enron.com cc: Subject:? Fwd: hey, girlfriends! >From: Ukhawks@aol.com >To: bandrowski@msn.com, aboguszewski@hotmail.com, jclarke@chuck.stchas.edu, MMCronin00@aol.com, susiedrob@hotmail.com, SewSewGolf@aol.com, nfelicito.travelnetwork@us.amadeusmail.com, alana_glass@hotmail.com, Redfernran@aol.com, amanda_hawk@hotmail.com, ehillegeist@hotmail.com, JUdyH314@aol.com, OscarWanda@aol.com, SKnape@aol.com, Paulinelevin@aol.com, morein@worldnet.att.net, Gtn126@aol.com, roberttprice@sprintmail.com, RDGJJR5@aol.com, nshort@worldnet.att.net, Cinhundley@aol.com, paulrvirg@earthlink.net, totonj@earthlink.net, JFLEWHITE@aol.com, EllenUK@aol.com, swilliamson@edgellmail.com >Subject: Fwd: hey, girlfriends! >Date: Tue, 12 Dec 2000 04:30:16 EST > > Get more from the Web.? FREE MSN Explorer download : http://explorer.msn.com Content-Transfer-Encoding: 7bit Return-Path: <thesymingtons@email.msn.com> Received: from? rly-ye04.mx.aol.com (rly-ye04.mail.aol.com [172.18.151.201]) by air-ye04.mail.aol.com (v77.14) with ESMTP; Tue, 12 Dec 2000 02:34:21 -0500 Received: from? secure.smtp.email.msn.com (cpimssmtpu07.email.msn.com [207.46.181.28]) by rly-ye04.mx.aol.com (v77.27) with ESMTP; Tue, 12 Dec 2000 02:34:14 -0500 Received: from oemcomputer - 62.7.137.35 by email.msn.com with Microsoft SMTPSVC;?? Mon, 11 Dec 2000 23:33:56 -0800 Message-ID: <000801c0640d$da9f4f80$2389073e@oemcomputer> From: "thesymingtons" <thesymingtons@email.msn.com> To: "Maggie Symington" <msymington@hotmail.com> Subject: hey, girlfriends! Date: Mon, 11 Dec 2000 17:15:45 -0000 MIME-Version: 1.0 Content-Type: text/plain;???? charset="iso-8859-1" X-Priority: 3 X-MSMail-Priority: Normal X-Mailer: Microsoft Outlook Express 5.00.2615.200 X-MimeOLE: Produced By Microsoft MimeOLE V5.00.2615.200 Something fun to read! > >? I WANT WHAT SHE'S HAVING > > >>>> I have a new delightful friend, > > >? > I am most in awe of her. > > >? > When we first met I was impressed, > > >? > By her bizarre behavior. > > >? > > > >? > That day I had a date with friends, > > >? > We met to have some lunch. > > >? > Mae had come along with them, > > >? > All in all ... a pleasant bunch. > > >? > > > >? > When the menus were presented, > > >? > We ordered salads, sandwiches, and soups. > > >? > Except for Mae who circumvented, > > >? > And said, Ice Cream, please: two scoops. > > >? > > > >? > I was not sure my ears heard right, > > >? > And the others were aghast. > > >? > Along with heated apple pie, > > >? > Mae added, completely unabashed. > > >? > > > >? > We tried to act quite nonchalant, > > >? > As if people did this all the time. > > >? > But when our orders were brought out, > > >? > I did not enjoy mine. > > >? > > > >? > I could not take my eyes off Mae, > > >? > As her pie a-la-mode went down. > > >? > The other ladies showed dismay, > > >? > They ate their lunches silently, and frowned. > > >? > > > >? > Well, the next time I went out to eat, > > >? > I called and invited Mae. > > >? > My lunch contained white tuna meat, > > >? > She ordered a parfait. > > >? > > > >? > I smiled when her dish I viewed, > > >? > And she asked if she amused me. > > >? > I answered, Yes, you do, > > >? > But also you confuse me. > > >? > > > >? > How come you order rich desserts, > > >? > When I feel I must be sensible? > > >? > She laughed and said, with wanton mirth, > > >? > I am tasting all that's possible. > > >? > > > >? > I try to eat the food I need, > > >? > And do the things I should. > > >? > But life's so short, my friend, indeed, > > >? > I hate missing out on something good. > > >? > > > >? > This year I realized how old I was, > > >? > She grinned, I've not been this old before. > > >? > So, before I die, I've got to try, > > >? > Those things for years I had ignored. > > >? > > > >? > I've not smelled all the flowers yet, > > >? > There's too many books I have not read. > > >? > There's more fudge sundaes to wolf down, > > >? > And kites to be flown overhead. > > >? > > > >? > There are many malls I have not shopped, > > >? > I've not laughed at all the jokes. > > >? > I've missed a lot of Broadway Hits, > > >? > And potato chips and cokes. > > >? > > > >? > I want to wade again in water, > > >? > And feel ocean spray upon my face. > > >? > Sit in a country church once more, > > >? > And thank God for It's grace. > > >? > > > >? > I want peanut butter every day, > > >? > Spread on my morning toast. > > >? > I want un-timed long-distance calls, > > >? > To the folks I love the most. > > >? > > > >? > I've not cried at all the movies yet, > > >? > Nor walked in the morning rain. > > >? > I need to feel wind in my hair, > > >? > I want to fall in love again. > > >? > > > >? > So, if I choose to have dessert, > > >? > Instead of having dinner. > > >? > Then should I die before night fall, > > >? > I'd say I died a winner. > > >? > > > >? > Because I missed out on nothing, > > >? > I filled my heart's desire. > > >? > I had that final chocolate mousse, > > >? > Before my life expired. > > >? > > > >? > With that, I called the waitress over, > > >? > I've changed my mind, it seems. > > >? > I said, I want what she is having, > > >? > Only add some more whipped-cream! > > >? > > > >? > Here is a little something for you all! > > >? > We need an annual Girlfriends Day! > > >? > If you get this twice, > > >? > then you have more than one girlfriend. > > >? > Be happy. > > >? > > > >? > ALL I NEED TO KNOW ABOUT LIFE I LEARNED FROM MY GIRLFRIENDS > > >? > > > >? >? * Good times are even better when they're shared. > > >? >? * A good long talk can cure almost anything. > > >? >? * Everyone needs someone with whom to share their secrets. > > >? >? * Listening is just as important as talking. > > >? >? * An understanding friend is better than a therapist... > > >? >??? and cheaper too! > > >? >? * Laughter makes the world a happier place. > > >? >? * Friends are like wine; they get better with age. > > >? >? * Sometimes you just need a shoulder to cry on. > > >? >? * Great minds think alike, especially when they are female! > > >? >? * When it comes to "bonding," females do it better. > > >? >? * YOU ARE NEVER TOO OLD FOR SLUMBER PARTIES!!!! > > >? >? * Girls just want to have fun. > > >? >? * It's important to make time to do "girl things." > > >? >? * Calories don't count when you are having lunch > > >? >??? (or any other food) with your girlfriends. > > >? >? * You can never have too many shoes. > > >? >? * GEMS MAY BE PRECIOUS, BUT FRIENDSHIP IS PRICELESS!!! > > >? > > > >? >? PLEASE PASS THIS ON TO ALL OF YOUR GIRLFRIENDS
Calif May Be Buying Big Power Supplies At Market's Top By Mark Golden 03/07/2001 Dow Jones Energy Service (Copyright (c) 2001, Dow Jones & Company, Inc.) NEW YORK -(Dow Jones)- When market-savvy energy companies like Enron, Calpine and Dynegy are selling like crazy, that might be a sign it's not a good time to buy. Nevertheless, the state of California is signing contracts for $43 billion worth of power under supply deals stretching up to 20 years. Some industry experts say these contracts could be overpriced by billions of dollars in a matter of months. What's more, deliveries for most of the supplies already signed for won't begin until after this summer, which is likely when the power will be needed most. "The state should be involved in portfolio contracts to stabilize costs, but signing 10-year and 20-year contracts is inappropriate," said Michael Zenker, director of western energy consulting services at Cambridge Energy Research Associates. "That could end up locking consumers into higher rates for many years to come." The near bankruptcy of California's two largest utilities has forced the state to step heavily into the power markets. The state's idea behind signing long-term contracts is to stabilize its power costs by spreading them out, said Vikram Budhraja, whose company, Electric Power Group, is advising the state on the contracts. "What we set out to do is get California out of the spot market, bring stability to the market and get dependable supplies," Budhraja said. "We believe we have done that." But some said California could find cheaper prices for forward power if it waits. Power prices will continue to be very volatile for the next 12 months to 24 months, but the price of power for delivery in 2002 and beyond is likely to begin falling at the end of this summer, said Gerald Keenan, a senior partner for PricewaterhouseCoopers' utility consulting group. The best approach now is to sign contracts covering just a few months or years, he said. "It's not a good bet that gas prices will stay high for such a long time," he said. "And very little of that power will be delivered this summer anyway." This week, California Gov. Gray Davis said the state has nailed down about 7,000 megawatts for the summer - more than half the difference between generation already controlled by the utilities and the projected peak demand on a very hot day. But contract details released by Calpine Corp. (CPN), Dynegy Inc. (DYN), Duke Energy (DUK) and Williams Companies (WMB) belie the governor's claim. According to press releases from those generators, only 1,640 MW of the power they're selling will be available this summer. Not everyone agrees the state has overpaid. To head off a meltdown, independent power companies in California are giving the state prices slightly below the current forward market, said Gary Ackerman, executive director of the Western Power Trading Forum. "These are probably good deals," said Ackerman, who added that potential out-of-state suppliers are seeking higher prices because they don't have the same political motivation. "Never guess at what prices are going to do. They can always go higher." Still, California's inability to find much power for this summer means that the state's imbalance between supply and demand will have to be solved in the near term on the demand side, according to one perspective. Once demand falls - whether through higher prices, voluntary conservation, involuntary blackouts or even a recession - forward electricity prices in California could come crashing down. Davis has proposed conservation plans that he says will reduce electricity consumption by 10% from expected levels this summer. As part of the conservation program, Davis wants to install new real-time meters before summer at 43,000 industrial and commercial customers which will then get some market prices for their power and would be motivated to reduce consumption during peak-use hours. The current forward market reflects a skepticism that the meters and other conservation efforts will be anywhere near as effective this summer as the governor says. But some industry experts say the real-time meters alone could reduce power consumption by 10%, which would slash both spot and forward supply prices, again reason for the state to wait. "The state should absolutely install the meters first before signing the long-term contracts," Zenker said. The governor agreed, when asked about this in his press conference, that conservation efforts will weaken forward markets. But he said securing stable prices now is worth the cost. "Consumers will know approximately what it will cost them for power. The first two or three years they will probably pay less than the real cost of power. In the next five or six years they may pay a little bit more," Davis said. "I think that is a bargain that Californians can learn to accept." Moreover, if the state had signed deals for just a couple of years, the average price would be double the $69/average price of the longer-term contracts announced this week. Such prices, in turn, would have forced the state to raise electricity rates, something that is politically unpalatable, Zenker conceded. Davis and his staff defended their approach, saying that the problem for this summer will be so acute that it requires a multipronged attack rather than pursuing demand reductions first. "There is no one piece that is going to solve this problem," Budhraja said. "All have to be pursued simultaneously." -By Mark Golden, Dow Jones Newswires; 201-938-4604; mark.golden@dowjones.com Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
Karen, I thought you guys were creating a manual invoice and sending it out the door. We can put all of this activity in our gas system for tracking and g/l purposes ( I think). I have not worried about it because I thought this activity was going away, or at least out of the Estate Team area where Robin Barbe and I work. I keep wondering if this activity should go to Greg Sharps group (OpCo or New Co, whatever its called)? The accounting contact at TXU is Mydra Derden and her number is 214-875-9473. -----Original Message----- From: Mazowita, Mike Sent: Wednesday, June 05, 2002 9:04 AM To: Germany, Chris Subject: FW: Ponderosa Sales to TXU for May 2002 Chris, Can you help Karen out here??? 1) Is there a TXU Settlements person we can talk to regarding this difference in payment??? 2) At one time, you were contemplating putting our deal into the "system". Did this happen and are invoices being generated from this system?? MM -----Original Message----- From: Herrmann, Karen Sent: Tuesday, June 04, 2002 12:10 PM To: Mazowita, Mike Subject: RE: Ponderosa Sales to TXU for May 2002 Mike, on May 29, a deposit was made into the Chase account in the amount of $925,244.97. Would this be the deposit from TXU for April's gas sales? According to Chris's schedule, they owed us $952,055 for April. Any thoughts or comments? Thanks, Karen ps: who is invoicing TXU for what they owe us? -----Original Message----- From: Germany, Chris Sent: Friday, May 31, 2002 4:02 PM To: Germany, Chris; Barbe, Robin; Mazowita, Mike; Kelly, Katherine L.; Denetsosie, Troy; Brady, Kevin; Vos, Theresa; Herrmann, Karen Cc: Hill, Garrick Subject: RE: Ponderosa Sales to TXU for May 2002 price for gas sold 5/25 - 5/28 $2.7550 Sold 10,000 for 5/29 at gas daily waha - $.05 which is $2.7700 Sold 10,500 for 5/30 at gas daily waha - $.05 which is $2.8750 Sold 15,000 for 5/31 at gas daily waha - $.05 which is $2.9750 Karen, Theresa, all the sales data for May is in the attached worksheet under "may02". << File: MARGAS.xls >> -----Original Message----- From: Germany, Chris Sent: Friday, May 24, 2002 10:41 AM To: Barbe, Robin; Mazowita, Mike; Kelly, Katherine L.; Denetsosie, Troy; Brady, Kevin Cc: Hill, Garrick Subject: RE: Ponderosa Sales to TXU for May 2002 sold 10,000 for 5/24 at gas daily waha - $.05 which is $3.035 and 10,000 for 5/25 - 5/28 at gas daily waha - $.05 -----Original Message----- From: Barbe, Robin Sent: Wednesday, May 22, 2002 1:21 PM To: Barbe, Robin; Germany, Chris; Mazowita, Mike; Kelly, Katherine L.; Denetsosie, Troy; Brady, Kevin Cc: Hill, Garrick Subject: RE: Ponderosa Sales to TXU for May 2002 the gas price for the 5000 for gas day 5/22 is $2.985. i sold txu 10MM for 5/23 at gas daily waha - $0.05 again. -----Original Message----- From: Barbe, Robin Sent: Tuesday, May 21, 2002 10:38 AM To: Barbe, Robin; Germany, Chris; Mazowita, Mike; Kelly, Katherine L.; Denetsosie, Troy; Brady, Kevin Cc: Hill, Garrick Subject: RE: Ponderosa Sales to TXU for May 2002 the gas price for the 6500 for 5/21 is $3.095. sold txu 5000 for gas day 5/22 at waha gas daily avg - $0.05. -----Original Message----- From: Barbe, Robin Sent: Monday, May 20, 2002 10:05 AM To: Barbe, Robin; Germany, Chris; Mazowita, Mike; Kelly, Katherine L.; Denetsosie, Troy; Brady, Kevin Cc: Hill, Garrick Subject: RE: Ponderosa Sales to TXU for May 2002 sold 6500 to txu @ cayanosa for 5/21. price is waha gas daily avg - $0.05. -----Original Message----- From: Barbe, Robin Sent: Friday, May 17, 2002 9:54 AM To: Barbe, Robin; Germany, Chris; Mazowita, Mike; Kelly, Katherine L.; Denetsosie, Troy; Brady, Kevin Cc: Hill, Garrick Subject: RE: Ponderosa Sales to TXU for May 2002 sold 10,000 to txu at cayanosa at a price of $3.01 for the 5/18, 19, & 20. -----Original Message----- From: Barbe, Robin Sent: Thursday, May 16, 2002 2:19 PM To: Germany, Chris; Mazowita, Mike; Barbe, Robin; Kelly, Katherine L.; Denetsosie, Troy; Brady, Kevin Cc: Hill, Garrick Subject: RE: Ponderosa Sales to TXU for May 2002 Here's an update on the status of sells to TXU: Sold 10,000 dth of Cinergy/Cayanosa for the following gas days and prices: 5/14 @ $3.26 5/15 @ $3.345 waha gda - $0.05 5/16 @ $3.12 waha gda - $0.05 5/17 @ $3.02 If you have any questions, I can be reached at 713-853-7177. Robin -----Original Message----- From: Germany, Chris Sent: Friday, May 10, 2002 1:06 PM To: Barbe, Robin Subject: FW: Ponderosa Sales to TXU for May 2002 -----Original Message----- From: Mazowita, Mike Sent: Friday, May 10, 2002 11:26 AM To: Germany, Chris Subject: RE: Ponderosa Sales to TXU for May 2002 Thanks. I will see on Monday how Brazos ran the plant over the weekend and take a course of action from there. At least 10,000 -15,000 to market. -----Original Message----- From: Germany, Chris Sent: Friday, May 10, 2002 10:39 AM To: Germany, Chris; Mazowita, Mike; Barbe, Robin; Kelly, Katherine L.; Denetsosie, Troy; Brady, Kevin Cc: Hill, Garrick Subject: RE: Ponderosa Sales to TXU for May 2002 We did not sell any gas for May 8th-10th. Sold TXU 5,000 dth of Cinergy/Cayanosa for 5/11-13/02 at $3.32. -----Original Message----- From: Germany, Chris Sent: Tuesday, May 07, 2002 10:44 AM To: Germany, Chris; Mazowita, Mike; Barbe, Robin; Kelly, Katherine L.; Denetsosie, Troy; Brady, Kevin Cc: Hill, Garrick Subject: RE: Ponderosa Sales to TXU for May 2002 For gas day 5/7/02, Cinergy/Apache moved 10,000 dth from Sid Rich Cayanosa to Oasis Mi Vida. Oasis Mi Vida is not a Lone Star point but I didn't know it at the time and I sold the gas to TXU at $3.20. No sales were made for 5/8/02. -----Original Message----- From: Germany, Chris Sent: Friday, May 03, 2002 5:17 PM To: Germany, Chris; Mazowita, Mike; Barbe, Robin; Kelly, Katherine L.; Denetsosie, Troy; Brady, Kevin Cc: Hill, Garrick Subject: RE: Ponderosa Sales to TXU for May 2002 Sold TXU 10,000 dth of Cayanosa for 5/2/02 at $3.51. Sold TXU 10,000 dth of Cayanosa for 5/3/02 at $3.36. Sold TXU 10,000 dth of Cayanosa for 5/4-6/02 at $3.18. -----Original Message----- From: Germany, Chris Sent: Tuesday, April 30, 2002 2:12 PM To: Germany, Chris; Mazowita, Mike; Barbe, Robin; Kelly, Katherine L.; Denetsosie, Troy; Brady, Kevin Cc: Hill, Garrick Subject: Ponderosa Sales to TXU for May 2002 Sold TXU 10,000 dth of Cayanosa for 5/1/02 at $3.45. I actually sold TXU the gas yesterday and I didn't want to change the volumes for the 1st. Let me know if you want to sell more than 10,000 for the 2nd. Thanks
Platts Energy Bulletin Welcome to Platts Energy Bulletin, a showcase of the top headlines posted on platts.com (http://www.platts.com) over the past 24 hours. To view this file in html, open the attachment at the bottom of this email. For Platts Premium customers go to www.einsight.com (http://www.einsight.com ) to pick up your Platts Energy Insight subscription. Your password and login remain the same. If you no longer wish to receive this email, instructions for unsubscribing can be found at the bottom of each issue. We welcome your feedback - send your comments to feedback@platts.com Jan 25, 2002 What's New on platts.com? Platts Enron Report: Read about the implications of Enron's bankruptcy on the financial and energy communities. (http://www.platts.com/features/enron/index.shtml) Bandwidth Update: Ambient and Southern Telecom to develop and test power line communications system. (http://www.platts.com/bandwidth/index.shtml) Futures Round-up NYMEX: Crude to open higher despite lack of news NYMEX March crude oil is called to open 15 cts higher at $19.85/bbl Friday. March Brent is called to open 17 cts higher at $19.31/bbl. February heating oil is called to open 11 pts higher at 53.50 cts/gal and February unleaded gasoline is called to open 40 pts higher at 57.25 cts/gal. IPE Brent Focus: Technical buying pushes IPE Brent crude higher Friday Front-month March gapped higher in ETS electronic trading early on, opening at $19.35/bbl, up from Thursday's high of $19.25/bbl. Gains were consolidated in open outcry business and at 1100 GMT the contract stood at $19.49/bbl, 36 cts higher than the previous day's close. April Brent had climbed 32 cts to trade at $19.61/bbl at the same time. News Round-up Click on the headlines below or paste the URLs provided in your internet browser to see the full story. ADVERTISEMENT: Platts Global Energy Jobs Board and Resume Bank: Created in partnership with the Energy Jobs Network, the Jobs Board gives you access to a pool of job seekers and open positions across the energy industry. It's free for all job seekers, and there is a range of packages for employers posting jobs. (http://www.energyjobsnetwork.com/home.asp?code=platts) ENERGY INSIGHT: (For Premium Customers) Liquefied natural gas proponents remain bullish In the 1970s-early 1980s, soaring natural gas prices and the faulty belief the United States would run out of natural gas within a decade led to the construction of four liquefied natural gas terminals. (http://www.einsight.com) OIL: Devon Energy completes $3.15-bil acquisition of Mitchell Devon Energy Jan 24 said it had completed its $3.15-bil acquisition of Mitchell Energy & Development after shareholders of both companies approved the deal in separate meetings earlier in the day. (http://www.platts.com/archives.shtml#58130) NATURAL GAS: Philippines mulls sale of PNOC's stake in Malampaya gas Enron late Jan 24 said it would continue to pursue a lawsuit against Dynegy seeking $10-bil in damages arising out of Dynegy's termination of its merger agreement with Enron, and amend that complaint to add an additional damage claim alleging that Dynegy's exercise of the Northern Natural Gas Pipeline option was wrongful. (http://www.platts.com/archives.shtml#57291) PETROCHEMICALS: ExxonMobil opens $2-bil chemical complex in Singapore ExxonMobil Chemical officially opened its $2-bil petrochemical complex in Singapore, known as the Singapore Chemical Plant on Friday. (http://www.platts.com/archives.shtml#58153) ADVERTISEMENT: Platts Buyers' Guide: One online place for the electric power industry to search, compare and find the products and services you need. Click to add your listing. (http://www.mediabrains.com/client/platts/bg1/search.asp) ELECTRIC POWER: Sempra reviewing Enron assets for possible purchase Sempra Energy has been looking at "hard assets" owned by bankrupt Enron, including its natural gas pipelines, energy services contracts and trading operations, but has yet to make any final decision, Stephen Baum, Sempra chairman, president and chief executive officer, said Jan 24. (http://www.platts.com/archives.shtml#57305) NUCLEAR: Las Vegas, county ask court to stop Yucca Mt project Las Vegas and Clark County, Nevada asked a federal court for help Jan 24 in stopping DOE's repository project at Yucca Mountain, 90 miles outside Las Vegas. (http://www.platts.com/archives.shtml#58133) COAL: Egyptian firm seeks US Coal Egyptian company Al Nasr Co for Coke & Chemicals is asking US producers to prequalify to supply metallurgical coal to the company over a four-year period. 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If you are experiencing problems, email us at feedback@platts.com. - 250102.html
---------------------- Forwarded by Susan M Scott/HOU/ECT on 03/28/2000 12:06 PM --------------------------- Enron Capital & Trade Resources Corp. From: Lisa.A.Meador@chase.com 03/28/2000 11:22 AM To: jkbowles@hotmail.com, emily.boon@msdw.com, ashleastu@aol.com, merharp@hotmail.com, sscott5@enron.com, sbuck5151@aol.com, Edrington@Uthscsa.edu, rannlewis@hotmail.com, jesbateman@aol.com, jeannie.l.cooper@us.arthurandersen.com, bwallace@teksystems.com, annshrader@hotmail.com, Abby_Brink@Gensler.com, coinerj@aol.com, Nknewton@yahoo.com, colson@greenhill-co.com, meadorj@bigfoot.com, PerkinsM@sbmail.spring-branch.isd.tenet.edu, jflesher@kprc.com, mark.m.meador@usarthuranderson.com, christy.young@enron.com, sande.melton@chase.com, bmoss@exchange.ml.com, Will_Nolen@enron.net cc: Subject: Hit the Floor - True Story Hit The Floor' A True Story... > > > > On a recent weekend in Atlantic City, a woman won a > > bucketful of quarters at a slot machine. She took a > > break from the slots for dinner with her husband in > > the hotel dining room. But first she wanted to stash > > the quarters in her room. > >"I'll be right back and we'll go eat," she told her husband > >and she carried the coin-laden bucket to the elevator. > > > > As she was about to walk into the elevator she > >noticed two men already aboard. Both were black. > >One of them was big ... very big ...an intimidating > >figure. The woman froze. Her first thought was: > >These two are going to rob me. > >Her next thought was: > >Don't be a bigot, they look like perfectly nice gentlemen. > > > >But racial stereotypes are powerful, and fear immobilized her. > >She stood and stared at the two men. > >She felt anxious, flustered, and ashamed. > > > >She hoped they didn't read her mind, but knew they > >surely did; her hesitation about joining them on the > >elevator was all too obvious. Her face was flushed. > >She couldn't just stand there, so with a mighty effort of will > >she picked up one foot and stepped forward and followed > >with the other foot and was on the elevator. > > > >Avoiding eye contact, she turned around stiffly and > >faced the elevator doors as they closed. A second > >passed, and then another second, and then another. > >Her fear increased The elevator didn't move. Panic > >consumed her. My God, she thought, I'm trapped and > >about to be robbed. Her heart plummeted. > >Perspiration poured from every pore. Then ... one > >of the men said, "Hit the floor." > >Instinct told her: Do what they tell you. > > > >The bucket of quarters flew upwards as she > >threw out her arms and collapsed > >on the elevator carpet. > > > > A shower of coins rained down on her. Take my money > >and spare me, she prayed. More seconds passed. > > > >She heard one of the men say politely, 'Ma'am, if > >you'll just tell us what floor you're going to, > >we'll push the button.' The one who said it had a > >little trouble getting the words out. He was trying > >mightily to hold in a belly laugh. > > > >She lifted her head and looked up at the two men. > >They reached down to help her up. > >Confused, she struggled to her feet. > > > >"When I told my man here to hit the floor," said the > >average sized one, "I meant that he should hit the > >elevator button for our floor. I didn't mean for > >you to hit the floor, ma'am." He spoke genially. > >He bit his lip. > >It was obvious he was having a hard time not laughing. > > > >She thought: my goodness, what a spectacle I've made > >of myself. She was too humiliated to speak. She > >wanted to blurt out an apology, but words failed her. > > > >How do you apologize to two perfectly respectable > >gentlemen for behaving as though they were going to > >rob you? She didn't know what to say. > > > >The 3 of them gathered up the strewn quarters and refilled her bucket. > >When the elevator arrived at her floor, they > >insisted on walking her to her room. She seemed a > >little unsteady on her feet, and they were afraid she > >might not make it down the corridor. At her door > >they bid her a good evening. > > > >As she slipped into her room she could hear them > >roaring with laughter while they walked back to the > >elevator. The woman brushed herself off. > >She pulled herself together and went downstairs for > >dinner with her husband. > > > >The next morning flowers were delivered to her > >room-a dozen roses. Attached to EACH rose was a > >crisp one hundred-dollar bill. The card said: > > > >Thanks for the best laugh we've had in years' > >It was signed, > > > > Eddie Murphy > > Michael Jordan > > >
---------------------- Forwarded by Kayne Coulter/HOU/ECT on 11/29/2000 09:34 AM --------------------------- Gary and Donna Holtz <dgholtz@yahoo.com> on 11/29/2000 09:17:03 AM To: Mary and Bill Holtz <mary@jvlnet.com> cc: Subject: Heating Water in Microwave Micro-waving Water to > Heat it Up > I feel that the following is information that any > one who uses a microwave > oven to heat water should be made aware of. > > > > About five days ago, a 26 year old man decided > to have a cup of > instant > > >coffee. He took a cup of water and put it in the > microwave to heat it up > > >(something that he had done numerous times > before). I am not sure how > > long he set the timer for but he told me he > wanted to bring the water to > a boil. > > When the timer shut the oven off, he removed the > cup from the oven. As > he > looked into the cup he noted that the water was not > boiling but instantly > the water in the cup "blew up" into his face. > > > >The cup remained intact until he threw it out of > his hand but all the > water > > >had flown out into his face due to the buildup > of energy. His whole face > > is blistered and he has 1st and 2nd degree burns > to his face which may > leave > > >scarring. He also may have lost partial sight in > his left eye. > > > >While at the hospital, the doctor who was > attending to him stated that > > this is a fairly common occurrence and water > (alone) should never be > heated in a > > >microwave oven. If water is heated in this > manner, something should be > placed > > >in the cup to diffuse the energy such as a > wooden stir stick, tea bag, > > etc. It is however a much safer choice to boil > the water in a tea > kettle. > > > > Please pass this information on to friends and > family. Here is what a > > >science teacher has to say on the matter: > > > > "Thanks for the microwave warning. I have > seen this happen before. It > is > > >caused by a phenomenon known as super heating. > It can occur anytime > water is > > heated and will particularly occur if the vessel > that the water is > heated > in is > > new. > > > > "What happens is that the water heats faster > than the vapor bubbles can > > >form. If the cup is very new then it is unlikely > to have small surface > > >scratches inside it that provide a place for the > bubbles to form. As the > > >bubbles cannot form and release some of the heat > that has built up, the > > >liquid does not boil, and the liquid continues > to heat up well past its > boiling point. What then usually happens is that > the liquid is bumped or > jarred, which is just enough of a shock to cause the > bubbles to rapidly > form and expel the hot liquid. The rapid formation > of bubbles is also why > a carbonated beverage spews when opened after > having been shaken." > > Please pass this on to everyone you know, it could > save a lot, of pain and > suffering. > > > > ATTACHMENT part 2 message/rfc822 name=Heating Water in Microwave.eml > From: WALatif728@aol.com > Date: Sun, 26 Nov 2000 12:38:35 EST > Subject: Heating Water in Microwave > To: Beckie948@cs.com, Tiffeny_Lee@nyed.uscourts.gov, > TaqwaSec@aol.com, > aleliz@prodigy.net, agoldson@unitedwayatl.org > > More important information to be shared: > > Wadiyah > > Micro-waving Water to Heat it Up > I feel that the following is information that any > one who uses a microwave > oven to heat water should be made aware of. > > > > > > About five days ago, a 26 year old man decided > to have a cup of instant > > >coffee. He took a cup of water and put it in the > microwave to heat it up > > >(something that he had done numerous times > before). I am not sure how > > long he set the timer for but he told me he > wanted to bring the water to a > boil. > > When the timer shut the oven off, he removed the > cup from the oven. As he > looked into the cup he noted that the water was not > boiling but instantly > the water in the cup "blew up" into his face. > > > > > >The cup remained intact until he threw it out of > his hand but all the water > > >had flown out into his face due to the buildup of > energy. His whole face > > is blistered and he has 1st and 2nd degree burns > to his face which may leave > > >scarring. He also may have lost partial sight in > his left eye. > > > > > >While at the hospital, the doctor who was > attending to him stated that > > this is a fairly common occurrence and water > (alone) should never be heated > in a > > >microwave oven. If water is heated in this > manner, something should be > placed > > >in the cup to diffuse the energy such as a wooden > stir stick, tea bag, > > etc. It is however a much safer choice to boil > the water in a tea kettle. > > > > > > Please pass this information on to friends and > family. Here is what a > > >science teacher has to say on the matter: > > > > > > "Thanks for the microwave warning. I have seen > this happen before. It > is > > >caused by a phenomenon known as super heating. > It can occur anytime water > is > > heated and will particularly occur if the vessel > that the water is heated > in is > > new. > > > > > > "What happens is that the water heats faster > than the vapor bubbles can > > >form. If the cup is very new then it is unlikely > to have small surface > > >scratches inside it that provide a place for the > bubbles to form. As the > > >bubbles cannot form and release some of the heat > that has built up, the > > >liquid does not boil, and the liquid continues to > heat up well past its > > >boiling point. What then usually happens is that > the liquid is bumped or > jarred, which is just enough of a shock to cause the > bubbles to rapidly > > > form and expel the hot liquid. The rapid > formation of bubbles is also why > > a carbonated beverage spews when opened after > having been shaken." > > Please pass this on to everyone you know, it could > save a lot, of pain and > suffering. > __________________________________________________ Do You Yahoo!? Yahoo! Shopping - Thousands of Stores. Millions of Products. http://shopping.yahoo.com/
Electricity prices soar as changes take hold: Tab skyrockets under rule easing wholesale controls By Carrie Peyton Bee Staff Writer (Published Dec. 12, 2000) Some wholesale electricity prices on California's Power Exchange nearly tripled between Friday and Monday and others nearly quadrupled, while officials declared another electric emergency. In the first full business day under new, sharply disputed trading rules aimed at averting blackouts, prices of electricity on the Power Exchange, where the bulk of California's electricity is bought and sold, surged far above Friday's $250 per megawatt hour. The day's first PX auction produced average prices of $904 per megawatt hour, and a second auction used to adjust transmission line use produced prices of $668. One year ago, the average PX price was about $30, Power Exchange spokesman Jesus Arredondo said. "Prices were crazy yesterday and they're crazier today," Arredondo said. "This will be the most expensive month ever in California, I'm sure of it." The California Independent System Operator blamed high natural gas costs and strong electric demand throughout the West for Monday's price run-up, but critics suggested it was early evidence that the new trading rules have backfired. At the ISO's request, the Federal Energy Regulatory Commission late Friday gave permission to lift a $250 price cap and replace it with a requirement that power sellers who set prices higher than $250 must explain them later. The ISO said the changes would improve the grid's stability by attracting more power to California, repaying plant owners for high natural gas costs and reducing last-minute deals. The rules were immediately attacked by Gov. Gray Davis and state regulators, who argued that the rules would drive up prices without solving the other problems. That's just what happened Monday, said Steve Maviglio, spokesman for Davis. "Price gouging has reached a new level," he said. "It's not surprising. It's exactly what the governor predicted." In addition, a "glitch" in the way the ISO and the PX use two-stage electricity auctions to ease congestion on transmission lines will temporarily spur more last-minute trading instead of less, according to power plant owners and the ISO. ISO officials, who have long warned that last-minute deals can hurt the stability of the electric grid, said the effect will be minimal, but Power Exchange officials predict it could be massive. The test will come today. In an effort to solve the problem, the PX late Monday asked FERC to make another emergency change in trading rules, lifting caps on the second round of power auctions, which are used to set "congestion" pricing. The PX buys electricity from power plant owners and sells it to buyers, almost universally the utilities, which then turn around and supply Californians power. The ISO was created to control the transmission grid, but it has emerged as the buyer of about one-fourth of California's power when stability problems arise, and it then resells that power to utilities. Meanwhile, the ISO declared another "stage two" electric emergency Monday afternoon -- the 12th since Nov. 1 -- and pleaded for continued conservation. Some big power users were told to reduce consumption, although the ISO said generally the outlook has improved slightly. About 8,700 megawatts of power were off line Monday, compared with a high of more than 11,000 last week. A megawatt can supply about 300 to 1,000 households, depending on season and location. The ISO blames the almost unheard of cold-weather emergencies on an unusual number of power plants down for repairs and growth in other regions that compete with California for electricity. "It's a very tough problem right now," ISO spokesman Patrick Dorinson said. "I almost could look back and say summer was fun." The governor, PUC president Loretta Lynch, consumer advocates and others blame the deregulated electric market for the cold-weather power crunches. As that controversy raged on, state officials who are monitoring the increasingly chaotic electricity situation began toting up the costs of last week's runaway prices. On Friday alone, according to the California Electricity Oversight Board, it cost $212 million to deliver power through the ISO-controlled grid, which serves about three-fourths of the state's electric consumers. That would be enough to fully pay for a new, cleaner-burning 500-megawatt power plant about every two days. Monday's bill won't be fully computed for another few days, but it appears that it will be significantly higher, according to the oversight board. "We have a huge transfer of wealth going on, and we're not getting anything for it," Pacific Gas and Electric Corp. spokesman Gregg Pruett said. Meanwhile, financial analysts Monday warned investors that the state's two largest utilities are finding it increasingly difficult to bridge the gap between frozen rates and power costs that escalate nearly daily. Credit rating agency Fitch Inc. on Monday lowered its long-term and short-term debt ratings for PG&E and Southern California Edison, as well as the latter's parent company, Edison International. Fitch cited "increased liquidity pressure" and uncertainty about the utilities' ability to recover the costs of their power purchases. The rating downgrades mean it will be more expensive for the utilities to borrow money in the future. Also on Monday, Morgan Stanley Dean Witter & Co. and Banc of America Securities lowered their ratings on PG&E Corp.'s stock, which fell Monday to $21.94 a share, down $1.63, nearly 7 percent. The firm also lowered its rating for Edison International, whose stock closed at $18.63 a share, down $1.81, nearly 9 percent. Moody's Investors Service put the securities of PG&E and its parent PG&E Corp. on watch for a downgrade. PG&E estimates that at the end of November it had paid out $4.6 billion more for power than it has been able to collect, although consumer advocates disagree, pointing out that that number is significantly offset by utility revenues in other special accounts. Before the December run-up in wholesale prices, PG&E had requested a 17.5 percent rate increase, which state regulators put on hold. Now the rate increase needed to cover its costs appears to be increasing daily, Pruett said, but he declined to say how much PG&E might seek. Although consumer advocates oppose a rate increase, some are beginning to talk quietly about increases being inevitable if wholesale prices cannot be brought back down. "It's not sustainable," said Mike Florio, an attorney for The Utility Reform Network and a member of the ISO board. "It has to stop." Bee staff writer Andrew LePage contributed to this report. Copyright , The Sacramento Bee
This testimony was provided by PG&E in response to TURN's motion to roll TRA balances into the TCBA. While useful for internal purposes, the testimony was struck from the proceeding. PG&E has said they will be filing a subsequent application to the Commission on their rate stabilization plan within the next week. I would expect to see this, or similar information, in that filing. From: Jeff Dasovich on 11/16/2000 06:34 PM Sent by: Jeff Dasovich To: Roger Yang/SFO/EES@EES, Dennis Benevides/HOU/EES@EES, Neil Bresnan/HOU/EES@EES, Mona L Petrochko/NA/Enron@Enron, Harry Kingerski/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Sandra McCubbin/NA/Enron@Enron, Susan J Mara/NA/Enron@Enron, Paul Kaufman/PDX/ECT@ECT cc: Subject: FW: PG&E's Testimony on Financial Issues Associated with TRA Undercollection ----- Forwarded by Jeff Dasovich/NA/Enron on 11/16/2000 06:21 PM ----- "Delaney Hunter" <dhunter@smithandkempton.com> 11/16/2000 05:30 PM Please respond to dhunter To: "Aaron Thomas (E-mail)" <athomas@newenergy.com>, "'Allan Lippincott'" <alippin@mail.arco.com>, "Ann Cohn (E-mail)" <cohnap@sce.com>, "'Ann Watson'" <anw@cpuc.ca.gov>, "Anna Ferrera (E-mail)" <Anna.Ferrera@SEN.CA.GOV>, "'Art Carter'" <debinorton@aol.com>, "'assistant for John Fielder'" <moravekj@sce.com>, "Audra Hartmann (E-mail)" <ath@cpuc.ca.gov>, "Barbara Barkovich (E-mail)" <brbarkovich@earthlink.net>, "'Becky Kilbourne'" <bakilbourne@calpx.com>, "Bill Booth (E-mail)" <wbooth@booth-law.com>, "'Bill Dombrowski'" <cra@calretailers.com>, "Bill Keese (E-mail)" <wkeese@energy.state.ca.us>, "Bill Zobel (E-mail)" <bzobel@mail.arco.com>, "'Bob Foster'" <fosterrg@sce.com>, "'Bob Houston'" <houstgrp@pacbell.net>, "Carolyn McIntyre (E-mail)" <cmcintyre@sempra.com>, "Carolyn Veal-Hunter (E-mail)" <carolyn.veal-hunter@asm.ca.gov>, "Catherine Hackney (E-mail)" <hacknece@sce.com>, "Charles Bacchi (E-mail)" <charles.bacchi@asm.ca.gov>, "'Craig Brown'" <brownc@epenergy.com>, "Dan Carroll (E-mail)" <dcarroll@dbsr.com>, "'Denice Cazalet'" <dcazalet@apx.com>, "Dennis Price (E-mail)" <priced@epenergy.com>, "'Denny Samuel'" <dsam@chevron.com>, "'Dominic DiMare'" <dominic.DiMare@calchamber.com>, "Dorothy Rothrock (E-mail)" <drothrock@cmta.net>, "'Ed Yates'" <ed@clfp.com>, "Eloy Garcia (E-mail)" <egarcia@ka-pow.com>, "Evelyn Elsesser (E-mail)" <eke@aelaw.com>, "Gary Heath (E-mail)" <gheath@eob.ca.gov>, "'Gordon McDonald'" <gordon.mcdonald@pacificorp.com>, "'Jack Flanigan'" <jackflanigan@flaniganlaw.com>, "Jack Gualco (E-mail)" <Jackson_Gualco@gualcogroup.com>, "'Jack Stewart'" <jstewart@cmta.net>, "'James Boyd'" <jim@resources.ca.gov>, "Jan Smutny-Jones (E-mail)" <smutny@iepa.com>, "Jeff Dasovich (E-mail)" <jdasovic@enron.com>, "'Jerry Jordan'" <jordan@cmua.org>, "Jim Cassie (E-mail)" <jcassie@sempra.com>, "Jim Groniger (E-mail)" <gronijn@texaco.com>, "Joe Lyons (E-mail)" <joseph.lyons@asm.ca.gov>, "'Joe Ronan'" <joer@calpine.com>, "John Bridges (E-mail)" <bridgesj@epenergy.com>, "'John Fielder'" <fieldejr@sce.com>, "John Fistolera (E-mail)" <johnf@ncpa.com>, "'John Larrea (E-mail)'" <jgl@cpuc.ca.gov>, "John Rozsa (E-mail)" <John.Rozsa@sen.ca.gov>, "John White (E-mail)" <vjw@cleanpower.org>, "'Joseph Alamo'" <jalamo@enron.com>, "Julee Malinowski-Ball (E-mail)" <jmball@ns.net>, "'Julia Wright'" <jwright@smithandkempton.com>, "Karen Edson (E-mail)" <kedson@ns.net>, "Karen Jarrell (E-mail)" <kjarrell@smurfit.com>, "Karen Koyano (E-mail)" <kykoyano@calpx.com>, "'Karen Lindh'" <karen@klindh.com>, "Karen Mills (E-mail)" <kmills@cfbf.com>, "'Kari Harteloo'" <klc@aelaw.com>, "Kassandra Gough (E-mail)" <kgough@calpine.com>, "'Kathy Brandenburg'" <katherinebrandenburg@flaniganlaw.com>, "Kay Grosulak (E-mail)" <kgrosulak@sppc.com>, "Keith McCrea (E-mail)" <kmccrea@sablaw.com>, "Kevin Lynch (E-mail)" <Kevin.Lynch@pacifiCorp.com>, "Kevin Smith (E-mail)" <kevins@ncpa.com>, "Kip Lipper (E-mail)" <kip.lipper@sen.ca.gov>, "Lawrence Lingbloom (E-mail)" <lawrence.lingbloom@sen.ca.gov>, "Lenny Goldberg (E-mail)" <lga@mother.com>, "Louis Szablya (E-mail)" <szablyal@epenergy.com>, "Marc Joseph (E-mail)" <mdjoseph@adamsbroadwell.com>, "Marwan Masri (E-mail)" <mmasri@energy.state.ca.us>, "Mary McDonald (E-mail)" <memcdonald@calpx.com>, "Michael Alcantar (E-mail)" <mpa@aelaw.com>, "Mike Florio (E-mail)" <mflorio@turn.org>, "'Mike Kahl'" <mikahl@ka-pow.com>, "Mona Petrochko (E-mail)" <mpetroch@enron.com>, "Pete Conaty (E-mail)" <pcaceo@pacbell.net>, "'Phil Nails'" <phil.nails@asm.ca.gov>, "Phil Stohr (E-mail)" <pstohr@dbsr.com>, "Ralph Cavanagh (E-mail)" <rcavanagh@nrdc.org>, "Randy Chinn (E-mail)" <randy.chinn@sen.ca.gov>, "Ray Thompson (E-mail)" <ray.thompson@sen.ca.gov>, "'Rick Counihan'" <rick.counihan@greenmountain.com>, "Robert Berry (E-mail)" <berry@apx.com>, "Robin Larson (E-mail)" <rlarson@caiso.com>, "Sheryl Carter (E-mail)" <scarter@nrdc.org>, "Steve Pike (E-mail)" <pikes@epenergy.com>, "Steve Ponder (E-mail)" <steve_ponder@fpl.com>, "Stu Wilson (E-mail)" <swilson@cmua.org>, "'Sue Mara'" <smara@enron.com>, "Susan Reeder (E-mail)" <sreeder@sppc.com>, "Terry Winter (E-mail)" <twinter@caiso.com>, "Thomas Dinkel (E-mail)" <tdinkel@retx.com>, "Tim Schmelzer (E-mail)" <Tschmelz@energy.state.ca.us>, "'Tommy Ross'" <rosst@sce.com>, "'Tony Braun'" <braun@cmua.org>, "Victoria Schaefer (E-mail)" <schaefvl@sce.com> cc: <CJW5@pge.com> Subject: FW: PG&E's Testimony on Financial Issues Associated with TRA Undercollection Per the discussion at the Retreat, please see attached for information on PG&E's financial situation. Thanks to Chris Warner for providing this information. Delaney -----Original Message----- From: Warner, Christopher (Law) [mailto:CJW5@pge.com] Sent: Thursday, November 16, 2000 1:39 PM To: 'dhunter@smithandkempton.com' Cc: Kauss, Kent; Timmerman, Mark Subject: PG&E's Testimony on Financial Issues Associated with TRA Undercollection <<02_Response.doc>> <<03_PTER_PhaseIII_Ch01_McManus.doc>> <<05_PTER_PhaseIII_Ch02_Campbell.doc>> <<07_PTER_PhaseIII_Ch03_Asselstine.doc>> <<09_PTER_PhaseIII_Ch04_StandardPoors.doc>> <<CPUC01-#83739-v1-A9901016_et_al_Minkin_Ruling_.doc>> Delaney, attached fyi is the testimony PG&E submitted to the CPUC last week on financial issues associated with our TRA undercollection and TURN's petition for modification. Also attached is a copy of yesterday's ruling of the administrative law judge rejecting this testimony for consideration as part of the evidentiary record of this phase of the proceeding. Needless to say, we believe our testimony is informative and helpful and should be considered as part of the overall policy debate on this vital issue. Please feel free to pass this testimony along to others who might be interested, and feel free to give me a call if you have any questions. Chris Warner PG&E Law Dept. 415-973-6695 - 02_Response.doc - 03_PTER_PhaseIII_Ch01_McManus.doc - 05_PTER_PhaseIII_Ch02_Campbell.doc - 07_PTER_PhaseIII_Ch03_Asselstine.doc - 09_PTER_PhaseIII_Ch04_StandardPoors.doc - CPUC01-#83739-v1-A9901016_et_al_Minkin_Ruling_.doc
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FROM: ORGANIZATION OF AFRICAN HEALTH AND ECONOMIC DEVELOPMENT (OAHED)Under Auspice of UNIPH Foundation: Reg N0:85/2000 c/o N0:9 Long Street Banjul The Gambia; Telefax:220-390969 SUBJECT; RE:INTRODUCTION OF (OAHED)AND REQUEST FOR FINANCIAL/TECHNICAL ASSISTANCE FOR EFFECTIVE TAKE-OFF OF ESTABLISHING A LIAISON OFFICE IN THE GAMBIA. ATTN:KENNETH INTRODUCTION Organization of African Health and Economic Development (OAHED), was created with a vision to coordinates efforts to combat diseases and promote physical and mental health. Contribute significantly to eradicate communicable diseases and promoting improved sanitation and health condition in Africa and promote economic development. OAHED based on a common vision on economic stabilization strategies and shared conviction , that (OAHED) have a pressing duty to eradicate poverty and diseases and to place Africa countries both individually and collectively on the path of sustainable growth development at the same time participate actively in the world economy. The programmme of (OAHED) is anchored on the determination of Africans to extricate themselves and the continent from the malaise of underdevelopment and exclusion in the world globalization. Poverty and backwardness of African stand in stark contrast to the prosperity of the developed world.The continued imagination of Africa from the globalisaton process and the social exclusion of the vast majority of its people constitute a serious threat to global stability. In Africa, 365 million peoples or half of the population live on less than $1.00 per day.The mortality rate of children under 5years of age is 140 per 1000 and life expectancy at birth is only 54 years. Only 41 percent of the population have access to safe water, medical care, education etc. The high rate of illiteracy for people over 15 is 54 percent. OAHED calls for the reversal of this abnormal situation by changing the relationship that underpins it.African are appealing neither for the further entrenchment of dependency through aid, nor for margical concession. We are convinced that an historical opportunity present itself to end the scourge of underdevelopment that afflicts Africa. The resources, including capital, technology and human skills that are required to launch a global war on poverty and underdevelopment exist in abundance.What is required to mobilize these resource and use them properly, is bold and imaginative leadership that is genuinely committed to a sustained effort of human upliftment and poverty eradication as well as a new global partnership based on shared responsibility and mutual interest. In the circumstance, Organization of African Health and Economic Development(OAHED) hereby declare that we will no longer allow ourselves/African countries to be conditioned by circumstances. We determine our own destiny and call on the rest of the world to help and complement our efforts. There are already signs of progress and hopes. Democratic regimes that are committed to the protection of human rights, peoples centered development and market oriented economies are on the increase. African people have begun to demonstrate their refusal to accept poor economic and political leadership.These development are, however uneven and inadequate and head to be further expedited. OAHED is about consolidating and accelerating these gains. It is a call for a new relationship of partnership between African and the international community, especially the highly industrialised countries, to overcome the development chasm that has of course widened over centuries of unequal relations. Our perfect knowledge in respect of the high level of your commitment and goodness in the vineyard of humanity impressed and impelled us to seek for your kind assistance to establish the (OAHED) liaison office in the Gambia. The materials and funds needed for the effective take-off are as follow: 1.Cost of renting /furnishing office??????????.USD$38,000.00 2.Logistics, ie, vehicles???????????????USD$325,000.00 3.Staff emolument, mobility and communication etc????USD$57,000.00 4.Contingency (5%) Grand Total ???????????????????USD$420,000.00 In the light of this, we are now on board in a situation not to be described caused by financial difficulty. We have no facilities neither have we any money to purchase those materials that are absolutely necessary in this issue.Your goodness to humanity has ever been such as leaves not the smallest doubt you will not suffer us to starve in the situation you have been pleased to place us, and which is such as will ever tend to make us the most grateful/happy and to ensure success as well as accomplish the set-up goals.You will be induced to take this issue into consideration an urgent intervention in this impediment, and by a little pecuniary aid, please save us from this impasse.It will be an act worthy of your self, and that imprint upon our heart which will never be erased. OAHED will welcome any assistance you render to enable us put in place the relevant infrastructures that would enhance the effective and the presence of Organization of African Health and Economic Development in the Gambia. Any assistance given should be considered a worthwhile service to God and Humanity .If you require any further information or clarification in any point, please do not hesitate to ask. Looking Forward to The Pleasure of your Compliance. Yours Faithfully Rev. Emmanuel . E. Awuruh CEO/PRESIDENT ORGANIZATION OF AFRICAN HEALTH AND ECONOMIC DEVELOPMENT(OAHED) THE GAMBIA, WEST AFRICA. __________________________________________________ Do You Yahoo!? Buy the perfect holiday gifts at Yahoo! Shopping. http://shopping.yahoo.com
Sara, I am well aware of these emails. You are correct this has been going on for some time but I hope that you do not mean to suggest that the lack of resolution is due to any negligence on my part. As I already explained to you at our meeting today that (1) the information that Richard Sage provided to us was not accurate; (2) and (2) has been constantly changing BOTH within the database and from Richard's perspective. Moreover, I figured out that it did not make sense to have officers from both the U.S. and London. Cheryl Nelson Senior Counsel EB3816 (713) 345-4693 Sara Shackleton@ECT 04/02/2001 05:08 PM To: Cheryl Nelson/NA/Enron@Enron cc: Stephanie Panus/NA/Enron@Enron Subject: FW: Transfer of bond business from ENAC to ECI Cheryl: Attached are a series of messages regarding the Enron Credit Inc. slate of officers. This has been going on for some time. Sara Shackleton Enron North America Corp. 1400 Smith Street, EB 3801a Houston, Texas 77002 713-853-5620 (phone) 713-646-3490 (fax) sara.shackleton@enron.com ----- Forwarded by Sara Shackleton/HOU/ECT on 04/02/2001 04:59 PM ----- Sara Shackleton 03/21/2001 11:47 AM To: Teresa Callahan/Enron@EnronXGate cc: Subject: FW: Transfer of bond business from ENAC to ECI Teresa: Your emails have not gone unheeded! We were facilitating things for Richard and he needs to let us know his slate for the U.S. segment of the London business. We'll wait to hear from Richard. If you have any questions please give me a call. Thanks. Sara Shackleton Enron North America Corp. 1400 Smith Street, EB 3801a Houston, Texas 77002 713-853-5620 (phone) 713-646-3490 (fax) sara.shackleton@enron.com ----- Forwarded by Sara Shackleton/HOU/ECT on 03/21/2001 11:44 AM ----- Sara Shackleton 03/20/2001 04:16 PM To: Cheryl Nelson/NA/Enron, Richard Sage/LON/ECT cc: Subject: FW: Transfer of bond business from ENAC to ECI Cheryl: Where do we stand on the ECT Credit Inc. three (3) accounts? Richard: Do you have the proposed U.S. slate for Teresa? We do not know who you want as officers/directors. Sara Shackleton Enron North America Corp. 1400 Smith Street, EB 3801a Houston, Texas 77002 713-853-5620 (phone) 713-646-3490 (fax) sara.shackleton@enron.com ----- Forwarded by Sara Shackleton/HOU/ECT on 03/20/2001 02:05 PM ----- Teresa Callahan/ENRON@enronXgate 03/20/2001 01:59 PM To: Sara Shackleton/HOU/ECT@ECT cc: Richard Sage/LON/ECT@ECT Subject: FW: Transfer of bond business from ENAC to ECI Please let me know if this request should be directed to someone else's attention or if documents have already been prepared regarding changes that Mr. Sage requested. Thanks for your help with this matter. Teresa -----Original Message----- From: Callahan, Teresa Sent: 03/13/2001 8:58 AM To: Shackleton, Sara Subject: FW: Transfer of bond business from ENAC to ECI Importance: High Richard Sage has asked us to change the slate of directors and officers of this entity to U.S. people, with the exception that perhaps Richard Sage will retain an officer title. Will you please provide to me a list of who the directors will be and who the officers will be and their respective titles. My understanding is that these elections should take place effective March 5, 2001. Please advise or if you would like to discuss please call me at X58444. Thanks for your assistance. Teresa -----Original Message----- From: Thomas, Kathryn Sent: 03/13/2001 6:12 AM To: Callahan, Teresa Cc: Sage, Richard Subject: RE: Transfer of bond business from ENAC to ECI Teresa, Both Richard and Bryan signed the letters on 5th March. If you need any other information regarding these then your best bet would be to contact Simon Pook. Thxs Kath ---------------------- Forwarded by Kathryn Thomas/LON/ECT on 13/03/2001 12:10 --------------------------- Richard Sage 13/03/2001 11:22 To: Kathryn Thomas/LON/ECT@ECT cc: Subject: RE: Transfer of bond business from ENAC to ECI Can you make sure Teresa gets a date. Kathryn Thomas 13/03/2001 09:46 To: Richard Sage/LON/ECT@ECT cc: Subject: RE: Transfer of bond business from ENAC to ECI Sorry no. I gave them back to Simon Pook. Do you want me to contact him? ---------------------- Forwarded by Richard Sage/LON/ECT on 12/03/2001 19:24 --------------------------- From: Teresa Callahan/ENRON@enronXgate on 12/03/2001 13:20 CST To: Richard Sage/LON/ECT@ECT cc: Sue Kelly/LON/ECT@ECT Subject: RE: Transfer of bond business from ENAC to ECI Can you tell me what date is on the resignation letters. Thanks, Teresa -----Original Message----- From: Sage, Richard Sent: 03/12/2001 11:57 AM To: Callahan, Teresa Cc: Kelly, Sue Subject: RE: Transfer of bond business from ENAC to ECI Yes, Bryan and I have already signed resignation letters for Sue. Thanks, Richard From: Teresa Callahan/ENRON@enronXgate on 12/03/2001 08:22 CST To: "Sage, Richard" <IMCEAEX-_O=ENRON_OU=NA_CN=RECIPIENTS_CN=NOTESADDR_CN=875D24F9-A137C059-862565 F6-3FCB7D@ENRON.com>@SMTP@enronXgate cc: Subject: RE: Transfer of bond business from ENAC to ECI Richard: I am touching base with you regarding the change of officers and directors to US resident - Are we ready to do this yet? -----Original Message----- From: Sage, Richard [mailto:IMCEAEX-_O=ENRON_OU=NA_CN=RECIPIENTS_CN=NOTESADDR_CN=875D24F9-A137C059 -862565F6-3FCB7D@ENRON.com] Sent: 02/18/2001 9:07 PM To: Glover, Sheila; Doukas, Tom; Wall, David; Sloman, Ian; Shackleton, Sara; Kerr, Richard; Panus, Stephanie; Callahan, Teresa; Kelly, Sue; Bell, Stephen Cc: O'Connell, Denis Subject: Transfer of bond business from ENAC to ECI All, So that everyone can see what everone else is doing, below is the list of steps of which I am aware. I think quite a few of these were completed in Houston on Friday. Please shout if: - I have missed anything - Any deadlines are unrealistic - Anybody else should be copied in etc Thanks, Richard << OLE Object: Picture (Metafile) >>
---------------------- Forwarded by Scott Neal/HOU/ECT on 10/17/2000 12:11 PM --------------------------- Margaret Carson@ENRON 10/13/2000 01:43 PM To: Julie A Gomez/HOU/ECT@ECT, Stephanie Miller/Corp/Enron@ENRON, Vince J Kaminski/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Jeff Dasovich/NA/Enron@Enron, Daniel Allegretti/HOU/EES@EES, Mike McGowan/ET&S/Enron@ENRON, Lorna Brennan/ET&S/Enron@ENRON, Bill Cordes/ET&S/Enron@ENRON, Mark Schroeder/LON/ECT@ECT, Mark Koenig/Corp/Enron@ENRON, Kathryn Corbally/Corp/Enron@ENRON, James D Steffes/NA/Enron@Enron cc: Subject: CAMBRIDGE ENERGY UPDATES ON GAS AND POWER The CERA executive roundtable meeting summary results are as follows: If you are interested in a complete set of the graphs from the presentations please let me know. ELECTRIC POWER PART ONE PEAK TRENDS It is noteworthy how rapidly volatility can change geographically in the electric markets. Last year the U.S. Midwest/South areas were the peakiest, but it reversed this year with the West being highest at the peaks and in New England -- but only in early May 2000 were hgih peaks apparent there. Demand can vary from half the peak max to the max. Peakers can be on the margin on the upper half of the supply mix in many markets. We need to watch gas prices this winter as they can effect winter peak power prices--not just a summer phenomenon. Where are the most gas plants now on the margin? Ercot, FRCC, Neepool, NYPP, SERC, WSCC A DISCONNECT There is a disconnect in the on-peak forward market price for power in Texas now; with the added 5 GW Texas forward markets do not seem to take this into account yet. (Note: Vince Kaminski) The Texas forward market should be very soft next summer unless we return to 105 degree F temperatures. New England is just one year behind Texas in its overbuild. One main reason for the spikes in Calif is power plants did not get built in Calif due to a lack of a capacity charge ..and this is not a panacea...as Calif also has many enviro/siting hurdles that challenge developers who want to site as well. . TSUNAMI OF MERCHANT CAPACITY PLANNED? CERA sees over 240,000 MW of planned capacity over the 2000-2005 period; with 25,000 MW being completed in 2000; 35 MW under construction for 2001 and 15 000 MW under construction for 2002-- but the market only needing 13 000 to 15 000 MW a year. This shall lead to many and large deferrals and delays, especially in 2001 and 2002. What has been the recent history? US wide over the past 3 years just 11 percent of the planned capacity was actually finished and 18 percent of that planned was actually under construction. They assume a 24 month construction completion time. FOR PROFIT TRANSMISSION Cera sees Allegheny Energy in PJM West; Entergy in SPP; Southern in SERC and Alliant in MAPP as all for profit transcos. TYPICAL O&M COSTS IN U.S. TRANSCOS Why do O&M costs differ widely among transcos? Some costs are 3 to 8 times higher than the norm at $5000 in O&M expense per 5000 system miles in size. Regulatory overhang allows this...this is weather adjusted to remove high costs from big freezes etc. USING REAL OPTION MODEL VS POWER PLANT NPV You want to try to have the base value of an asset going forward when you expect volatility and include historical spreads and fuel/power price swing assumptions. CALIFORNIA MARKET IS BROKEN This market starts to work only after it gets into a reliability crisis. No incentives to add power plant capacity and huge hurdles against siting even when the market signals the need is there. Will the regulator's post 2000 fix make it worse? PEAK POWER DEMAND FORECAST As percent per year change vs 2000 Cera sees 2001 as follows: New Eng / New York 6.3 / 6.2 percent PJM / ECAR 7.7 / 4.4 percent MAIN / MAPP 3.0 / -0.1 SERC / FRCC 1.3 / 2.3 percent SPP / ERCOT 4.0 / 2.3 NWPP / Rockies -6.8 / -0.6 AZNM / Calif-SoNV -0.9 / 4.0 USA avg up 2.6 percent It looks like Calif. in in for a touch summer in 2001 as well. NATURAL GAS PART TWO SUPPLY SHORT Year 2001 supply rebound could be 800mmcfd to 1.0 bcfd; Canada in 2001 up only 400 a day; in the US we need 2 bcfd more supply for 2001 demand. alone let alone storage refill.... yet a cold winter now could add 3 to 4 bcfd to demand and slash storages. The fall in drilling in 1999 and early 2000 took 3.5 bcfd productive capacity out of the supply pool. It will take till 2005 for US production to reach a 4.1 bcfd gain versus today's production. ADDED GAS FOR POWER PLANTS Right now Cera expects an incremental need for 1 bcfd next year for these plants..this will keep prices high MUCH MORE POWER SWING 1990 to 1992 we needed 5 bcfd for power plant swings; now we need 10 bcfd; offpeak use is even up 5 bcfd vs 10 years ago. RESI USE IS UP The AGA disco members adds 750 000 new gas homes each year and this builds demand year round. INDUSTRIAL NUG DEMAND Of the 24 bcfd ( 8.77 Tcf) industrials gas use in the US; 8.6 bcfd ( 3.1 Tcf) of this is for power plant and non-mfg use. HOW FAST CAN CANADA ADD? Canada can add 3.6 bcfd by 2005 versus now; adding each year from 2001 to 2005 as follows: 500/800/900/700/700 mcfd annually. IS ARCTIC GAS ON THE HORIZON? Its is far away; maybe 4 or 5 bcfd by 2015.. This means up to 2.7 bcfd to flow to Midwest by 2015 and up to 2.4 bcfd to Calif./PNW on expansions by 2015.
FYI. -----Original Message----- From: MDay [mailto:MDay@GMSSR.com] Sent: Tuesday, October 02, 2001 6:35 PM To: 'Jeff Dasovich Enron SF'; 'Jim Steffes, Enron'; Kaufman, Paul; Sanders, Richard B.; 'Rick Shapiro, Enron Houston'; 'Sue Mara at Enron SF'; Williams, Robert C. Subject: FW: Notice of Settlement with SCE (A.00-11-038, et al. Service List) FYI. Please see this notice indicating that any party wishing to comment on the CPUC-SCE settlement must file same with the Federal Court in LA by 4:30 pm tomorrow, Wed. Oct. 3rd. I am assuming that Enron will NOT file any such comments, but wanted to pass along the deadline in case it was decided to add our two cents. Mike Day -----Original Message----- From: Cunningham, Becky C. [mailto:bec@cpuc.ca.gov] Sent: Tuesday, October 02, 2001 3:53 PM To: 'DavoodiKR@efaches.navfac.navy.mil'; 'LVanWagenen@sempra.com'; 'NXK2@pge.com'; 'RJP2@pge.com'; 'ROTT1@aol.com'; 'Slayman@energy.state.ca.us'; 'a0011038@cpuc.ca.gov'; 'abb@eslawfirm.com'; 'ad046@detroit.freenet.org'; 'aglandenergy@earthlink.net'; 'alexm@calpine.com'; 'anchau@shellus.com'; 'aorchar@smud.org'; 'askaff@energy-law-group.com'; Hartmann, Audra; 'athomas@newenergy.com'; Premo, Anne W.; 'beth.fox@sce.com'; 'bfinkelstein@turn.org'; 'bill.mccallum@ci.fresno.ca.us'; 'bill.wells@tyndall.af.mil'; 'bill@jbs.com'; 'bishop@jrwood.com'; 'blaising@braunlegal.com'; 'bloomje@la.whitecase.com'; 'bob_anderson@apses.com'; 'bradylaw@pacbell.net'; 'brb3@pge.com'; 'brbarkovich@earthlink.net'; Khoury, Dexter; 'btenney@landuselaw.com'; 'butzjh@apci.com'; Linsey, Steve; 'chilen@llgm.com'; 'chrism@mid.org'; 'christine_ferrari@ci.sf.ca.us'; 'ckingaei@yahoo.com'; 'clpearce@duanemorris.com'; 'cmkehrein@ems-ca.com'; Walwyn, Christine M.; 'cpeyton@sacbee.com'; 'cread@steptoe.com'; Danforth, Christopher; 'cwrmccv@worldnet.att.net'; 'cyounger@manatt.com'; 'dcarroll@dbsr.com'; 'ddavie@hesinet.com'; 'deb@a-klaw.com'; 'derkp@newsdata.com'; 'dgeorge@kroger.com'; 'dhuard@manatt.com'; 'difellman@energy-law-group.com'; 'dkk@eslawfirm.com'; Lafrenz, Donald J.; 'dmarcus@slip.net'; 'doug.anderson@calenergy.com'; 'douglass@energyattorney.com'; 'dpritchard@mofo.com'; 'drp6@pge.com'; 'dws@keywaycorp.com'; 'ed@apx.com'; 'ed@clfp.com'; 'edwardoneill@dwt.com'; 'ek@a-klaw.com'; 'ell5@pge.com'; 'emitchel@angnewspapers.com'; 'epoole@adplaw.com'; 'firmiyas@dof.ca.gov'; 'fmo@sdcity.sannet.gov'; 'foothill@lmi.net'; 'fosterbc@sce.com'; 'frank.cooley@sce.com'; 'freedman@turn.org'; 'fspillman@akingump.com'; Fua, Faline; 'furutanj@efawest.navfac.navy.mil'; 'fwmonier@tid.org'; 'gdreed@sidley.com'; 'gerhordt.herbert@msdw.com'; Kinosian, Robert; 'glsg@pge.com'; 'gperrault@adelphia.net'; 'gtbl@dynegy.com'; 'harrington@ggra.org'; 'hbd@gweiss.com'; 'hchoy@isd.co.la.ca.us'; 'hmoore@pcit.com'; 'hodgesjl@pacbell.net'; 'honest@compuserve.com'; 'huse@eesconsulting.com'; 'iberrio@greenlining.org'; 'j.p.shotwell@sce.com'; 'jbarthrop@electric.com'; 'jbennett@gmssr.com'; 'jbradley@svmg.org'; 'jbushee@sablaw.com'; 'jcpaine@stoel.com'; 'jdh@eslawfirm.com'; 'jeff@hmhresources.com'; 'jerryl@abag.ca.gov'; 'jesse.avila@ci.fresno.ca.us'; 'jguzman@nossaman.com'; 'jhay@sempra.com'; 'jhg@meyersnave.com'; 'jimross@r-c-s-inc.com'; Zeller, Jason; 'jleslie@luce.com'; Lo, Jeanette; 'jlyoung@sempra.com'; 'jmalkin@orrick.com'; Halligan, Julie; 'jnnc@chevron.com'; 'joe.paul@dynegy.com'; 'joeyoung@ebmud.com'; 'jogg@jhenergy.com'; 'jon.jacobs@paconsulting.com'; 'jparrott@sempra.com'; 'jpbatmale@realenergy.com'; 'jpeck@sempra.com'; DeUlloa, Joseph R.; 'jskillman@prodigy.net'; 'jsmollon@newwestenergy.com'; 'jsqueri@gmssr.com'; Wong, John S.; 'jtachera@energy.state.ca.us'; 'julesan@aol.com'; 'jweil@aglet.org'; 'jweisgall@aol.com'; 'jyf1@pge.com'; 'karen@klindh.com'; 'kcheh@omm.com'; 'kduggan@capstoneturbine.com'; 'keith-sappenfield@reliantenergy.com'; Lippi, Kimberly; 'kmccrea@sablaw.com'; 'kmcspadd@milbank.com'; 'kmelville@sempra.com'; 'kmills@cfbf.com'; Kajopaiye, Kayode; 'kpoole@adamsbroadwell.com'; 'ktilton@gralegal.com'; 'lgurick@calpx.com'; 'lifcentral@lif.org'; 'lindseyhowdowning@dwt.com'; Krannawitter, Laura L.; 'lmh@eslawfirm.com'; Serizawa, Linda; 'luluw@newsdata.com'; 'lwhouse@el-dorado.ca.us'; 'margery.a.neis@us.pwcglobal.com'; 'maxian_miriam@jpmorgan.com'; 'mbazeley@sjmercury.com'; 'mbrubaker@consultbai.com'; 'mday@gmssr.com'; 'mdjoseph@adamsbroadwell.com'; 'melanie_gillette@rmiinc.com'; Stevens, Maria E.; 'mgomez1@bart.gov'; 'mhg@hetrading.com'; 'michael.neville@doj.ca.gov'; 'mjaske@energy.state.ca.us'; 'mkramer@akingump.com'; 'mmattes@nossaman.com'; 'mpa@a-klaw.com'; 'mpatel@sidley.com'; 'mrh2@pge.com'; 'mschwebs@energy.state.ca.us'; 'mshames@ucan.org'; Vanko, Maria; 'napedersen@jonesday.com'; 'nryan@environmentaldefense.org'; 'oshirock@pacbell.net'; 'patrickm@crossborderenergy.com'; 'paul.harris@bridge.com'; 'pbray@newpower.com'; 'peter_fox-penner@brattle.com'; 'phanschen@mofo.com'; 'picketse@sce.com'; 'pjmuller@ricochet.net'; 'pjpowerlaw@aol.com'; Durgin, Pamela M.; 'pxo2@pge.com'; 'randy.chinn@senate.ca.gov'; 'randy_britt@mayco.com'; White, Rosalina; Campbell, Rod; 'rbw@mrwassoc.com'; Cagen, Robert C.; 'riald@kindermorgan.com'; 'rick.counihan@greenmountain.com'; 'rkeen@manatt.com'; 'rliebert@cfbf.com'; 'rmccann@cal.net'; 'robert.d.schasel@fritolay.com'; 'rogerberliner@bcjlaw.com'; 'ronknecht@aol.com'; 'rpernell@energy.state.ca.us'; 'rrcollins@n-h-i.org'; 'rrh3@pge.com'; 'rschmidt@bartlewells.com'; 'rtavares@energy.state.ca.us'; Feraru, Robert T.; 'rtp1@pge.com'; 'sberlin@mccarthylaw.com'; 'scottst@mid.org'; Roscow, Steve; Casey, Sean F.; 'sgreenberg@realenergy.com'; 'smoss@hooked.net'; 'smutny@iepa.com'; Ross, Steve; 'ssmyers@worldnet.att.net'; 'thaines@smud.org'; 'theresa_mueller@ci.sf.ca.us'; 'thoulihan@mdbe.com'; 'tknox@klalawfirm.com'; 'tmberliner@duanemorris.com'; 'tom.oneill@abnamro.com'; 'tomb@crossborderenergy.com'; 'tonywetzel@home.com'; 'tregtremont@dwt.com'; 'troberts@sempra.com'; Pulsifer, Thomas R.; 'tsmegal@calwater.com'; Burns, Truman L.; 'uwuaregion5@earthlink.net'; 'wbooth@booth-law.com'; 'wendy@econinsights.com'; 'whe1@pge.com'; Yee, Helen W.; Tapawan-Conway, Zenaida G. Subject: Notice of Settlement with SCE (A.00-11-038, et al. Service List) <<CPUC01-#107721-v1-Notice_of_Settlement_with_SCE.DOC>>
----- Forwarded by Jeff Dasovich/NA/Enron on 06/06/2001 08:54 AM ----- "Chris Micheli" <cmicheli@carpentersnodgrass.com> 06/05/2001 05:08 PM To: "Will Brown" <wbrown@lhom.com>, "Teresa Casazza" <teresa_casazza@aeanet.org>, "Sande George" <sglobby@pacbell.net>, "Ron Roach" <ron@caltax.org>, "Rex Hime" <rexhime@cbpa.com>, "Matt Sutton" <matthew_sutton@aeanet.org>, "Lorraine Albrecht" <laac@pge.com>, "Lisa Frank" <laf@ka-pow.com>, "Lance Hastings" <lhastings@cagrocers.com>, "LaJune Bush" <lajunebush@aol.com>, "Jot Condie" <jcondie@calrest.org>, "Joe Ackler" <ackler@ix.netcom.com>, "Jim Lites" <jlites@schottinc.com>, "James Clark" <jclark@calbankers.com>, "Greg Turner" <greg@caltax.org>, "George Miller" <gmiller@lhom.com>, "Gavin McHugh" <gmchugh@ix.netcom.com>, "Fred Taugher" <fred@ppallc.com>, "Fred Pownall" <fpownall@ka-pow.com>, "Fred Main" <fred.main@calchamber.com>, "Eric Miethke" <emiethke@ix.netcom.com>, "David R Doerr" <dave@caltax.org>, "David Nagler" <nagler@gene.com>, "Chuck Cole" <ccole@advocation-inc.com>, "Charles T Halnan" <chalnan@ns.net>, "Carolyn J. Veal-Hunter" <vealhunter@att.com>, "Bruce Allen" <bruce@calcpa.org>, "Brian Maas" <bmaas@calbankers.com>, "Bev Hansen" <bhansen@lhom.com>, "Barry Brokaw" <bsbsacadvo@msn.com>, "Anne Kelly" <kelly@hnks.com>, "Amy E. Garrett" <amy_garrett@car.org>, "Alan Lippincott" <lippial@bp.com>, "Susan McCabe" <smccabe@mccabeandcompany.net>, "Sue Mara" <smara@enron.com>, "Steven Kelley" <steven@iepa.com>, "Steve Ponder" <steve_ponder@fpl.com>, "Stephanie Newell" <stephanie-newell@reliantenergy.com>, "Scott Sadler" <sadlersa@earthlink.net>, "Scott Govenar" <sgovenar@govadv.com>, "Sandi McCubbin" <smccubbi@enron.com>, "Ron Tom" <rtom@govadv.com>, "Roger Pelote" <roger.pelote@williams.com>, "Robert Ross" <robbiz@cwo.com>, "Rina Venturini" <rventurini@teamgsi.net>, "Richard Hyde" <rwhyde@duke-energy.com>, "Rachel King" <rachel.king@elpaso.com>, "Phil Isenberg" <isenberg@hmot.com>, "Mike Monagan" <mrmonagan@aol.com>, "Maureen O'Haren" <oharen@hmot.com>, "Marie Moretti" <mmoretti@mccabeandcompany.net>, "Lynn Lednicky" <lale@dynegy.com>, "Kent Palmerton" <kent.palmerton@williams.com>, "Katie Kaplan" <kaplan@iepa.com>, "Kassandra Gough" <kgough@calpine.com>, "Julee Ball" <jmball@ns.net>, "John Stout" <john_h_stout@reliantenergy.com>, "John Larrea" <john.g.larrea@williams.com>, "Joe Ronan" <joer@calpine.com>, "Jeff Dasovich" <jeff.dasovich@enron.com>, "Jean Munoz" <jmunoz@mcnallytemple.com>, "Jan Smutny Jones" <smutny@iepa.com>, "Jack Pigott" <jackp@calpine.com>, "Hedy Govenar" <hgovenar@govadv.com>, "Greg Blue" <gtbl@dynegy.com>, "Delaney Hunter" <dhunter@s-k-w.com>, "Andy Brown" <abb@eslawfirm.com>, "John Norwood" <janorwood@norped.com>, "Pete Conaty" <pcaceo@pacbell.net>, "Matt Kilroy" <matt.kilroy@pge-corp.com>, "Cary Rudman" <cjrudman@softcom.net>, "Carolyn McIntyre" <cmcintyre@sempra.com>, "Barbara LeVake" <blevake@syix.com>, "Paula Soos" <psoos@covantaenergy.com>, "Mohammed Alrai" <mohammeda@calpine.com>, "Kent Robertson" <kentr@calpine.com>, "Katherine Potter" <katherip@calpine.com>, "Juan Rodriguez" <juanr@calpine.com>, "Eileen Koch" <eileenk@calpine.com>, "Bill Highlander" <highlander@calpine.com>, "Aymee Ramos" <aymeer@calpine.com>, "Virginia Gates" <virginia.gates@us.pwcglobal.com>, "Timothy Hayes" <thayes@deloitte.com>, "Terry Eager" <terry.eager@us.pwcglobal.com>, "Steve Danowitz" <steve.danowitz@ey.com>, "Roy Crawford" <rcrawford@brobeck.com>, "Robin Crawford" <rocrawford@deloitte.com>, "Robert Salazar" <rsalazar@kpmg.com>, "Richard Pomp" <rpomp@law.uconn.edu>, "Richard Hayes" <rhayes@ffic.com>, "Rex Halverson" <rhalverson@kpmg.com>, "Regina Schroder" <rschroder@barteleng.com>, "Prentiss Willson" <prentiss.willson@ey.com>, "Phillip Jelsma" <pjelsma@luce.com>, "Peter B. Kanter" <pkanter@mofo.com>, "Paul Frankel" <pfrankel@mofo.com>, "Nancy Iredale" <nliredale@phjw.com>, "Michel Stein" <stein@taxlitigator.com>, "Michael Herbert" <michael.d.herbert@us.andersen.com>, "Matt Stolte" <matt.stolte@us.pwcglobal.com>, "Marilyn Wethekam" <mwetheka@hmblaw.com>, "Kathy Sommers" <kathy.sommers@us.pwcglobal.com>, "Karen Hawkins" <klhawkins@tagghawk.com>, "Julian Chavez" <jchavez@dttus.com>, "Joan Irion" <jirion@hewm.com>, "Jesse Rosas" <jesse.s.rosas@us.arthurandersen.com>, "Jeff Morris" <jmorris@kpmg.com>, "Jeani Brent" <jebrent@deloitte.com>, "Jana Howard" <jana_howard@ftb.ca.gov>, "James Kleier" <jkleier@prestongates.com>, "James Buresh" <james.f.buresh@us.arthurandersen.com>, "Jack Sweitzer" <john.w.sweitzer@us.arthurandersen.com>, "Holly Hyans" <hhyans@mofo.com>, "Hal Kessler" <hal.s.kessler@us.andersen.com>, "Gregory J. Masters" <gjmasters@duke-energy.com>, "Glenn Bystrom" <glenn.bystrom@ey.com>, "Eric Coffill" <ecoffill@mofo.com>, "Elaine Bialczak" <jbialczak@dmainc.com>, "Edwin P. Antolin" <eantolin@mofo.com>, "Douglas Bramhall" <dbramhall@kpmg.com>, "Doug Schwartz" <dschwartz@pacbell.net>, "Dennis Perez" <perez@taxlitigator.com>, "Deborah Nosowsky" <deborah_j._nosowsky@ffic.com>, "Dan Thompson" <daniel.l.thompson@us.pwcglobal.com>, "Charles Rettig" <rettig@taxlitigator.com>, "Charles Moll" <cmoll@mofo.com>, "Bruce Kessler" <bruce.j.kessler@us.arthurandersen.com>, "Bruce Daigh" <bruce.daigh@us.pwcglobal.com>, "Bart Baer" <bart.baer@bakernet.com>, "Barry Weissman" <barry.weissman@us.pwcglobal.com>, "Barry Hacker" <bhacker@kpmg.com>, "Arthur Rosen" <arosen@mwe.com>, "Amy Silverstein" <asilverstein@mofo.com>, "Albert Mencher" <ammtax@naea.org>, "Al Koch" <alkoch@earthlink.net>, "Al Golbert" <agolbert@aol.com>, "David Cohen" <david.m.cohen@us.andersen.com> cc: Subject: AB 2xx passes fiscal cmte In a hearing off the Floor this afternoon, the Assembly Appropriations Committee voted on a partisan basis (14-7) to pass AB 2xx (Corbett), which would enact a gross receipts tax on power generators. Please note that three amendments were adopted by the author: (1) exempt state contracts (not all long-term contracts like SB 1xx does) and the taxpayer would have to go to DWR for this exemption; (2) taxpayer would get a credit for any similar tax paid in another state (assuming other states will actually enact windfall profits tax bills; (3) PUC will adjust the base price quarterly (rather than "from time-to-time"). Next stop is the Assembly Floor, planned for Thursday morning. Chris Micheli, Esq. Carpenter Snodgrass & Associates 1201 K Street, Suite 710 Sacramento, CA 95814 (916) 447-2251 FAX: (916) 445-5624 EMAIL: cmicheli@carpentersnodgrass.com
I agree with Mark's points. While we have advocated our merger with PGE (which did not concentrate market power) we have intervened in opposition to most others. Moreover, there is some hope that the German government will take the opportunity to use the proposed utility merger to force greater open access. We will likely encourage that action and may oppose the merger otherwise. Most mergers in this industry are defensive, not procompetitive, and, in my view, deserve no credit for convergence, innovation, or liberlization. ---------------------- Forwarded by Steven J Kean/HOU/EES on 09/10/99 01:17 PM --------------------------- Mark Schroeder@ECT 09/10/99 05:26 AM To: Margaret Carson/Corp/Enron@Enron cc: Joan Wasylik/LON/ECT@ECT, Danny McCarty/LON/ECT@ECT, Steven J Kean/HOU/EES@EES Subject: Speech to the British Institute of Energy Economists Margaret - apologies for the delay in getting comments to you on your speech. Due to press of other matters I will be brief. First, your speech caption, refernecing "mergers" is somewhat different than the topic shown in the agenda, i.e., "Industry Structure and Competitive Behaviour", but I trust you are wroking that out with the BIEE. Second, in your first paragraph, you note that developments in the energy sector over the last decade are due to the mergers of the last five years (a point I will retrun to later), but in any event, not entirely consistent in terms of timeframes. Third, I am surprised that the Enron Corp. view is that gas and electricity markets grew as they did over the decade due to mergers. In the past, things like unbundling and non-discriminatory third-party access have featured prominently in our advocacy. Indeed, though it was not my role at Enron, I would have thought that in many of the recent electricity mergers pre-dating Order No. 888 we would have joined the chorus of voices arguing that these mergers concentrated market power, and that such market power could only be mitigated with the provision of non-discriminatory third-party access (an argument we will be repeating in, e.g., Germany, as noted below). Finally, I would note that in the past, I thought we had questioned the value of mergers as an impediment to competitive markets, as I recall Ken Rice gave an infamous address/speech, in which he described "good" mergers and "bad" mergers, i.e., defensive mergers like Houston Industries and NorAm. I actually borrowed heavily from that speech two years ago, in paris, but if we have changed our tune, that is good to know. Even the "good" mergers identified in his/my speech, e.g., Enron/Portland, have had the "goods" thwarted, in part, by regulators, who would not let us do all we wanted to do that was pro-competitive. Also, in the past, we have used as a good example of "convergence" the arbitrage we have done at Sithe's facility in NY, pointing out that we are in an "energy" or "BTU"market, not gas alone, or electricity alone. Not clear to me that mergers in the US demonstrate this. Fourth, accepting that it is the Enron Corp. view that mergers are symbolic of the convergence of gas and electricity, and are what yield the many beneifts of competition that you dsicuss elsewhere in your speech (I do, of course, agree with all the platitueds that competition yilds more service offerings, innovation, etc.), you should be aware, coming over to this market, that a number of mergers are taking place that we have expressed concerns about in comments to the regulators, and will do so in the future. here are some you should be aware of: Veical integration in the UK electricity industry (not clear yet that this will result in better/more service, but definitely loss of counter-parties, re-bundling of business before retail unbundling/competition has taken hold); Exxon/Mobil (consolidation in the upstream sector in Continental Europe, which is already concentrated), VEBA/VIAG in Germany (probalby okay, assuming thrid-party access is allowed/enhanced to the wires). Just FYI, any objections we have are usually communicated confidentially. Fifth, if you are ging to emphasise mergers, as per your title and opening paragraph, I question the inclusion of all the discussion on privatisation, which is good, but does not seem to demonstrate the benefits of merger activity, which I read is the premise of your speech, per paragraph one. In addition, recitation of ownership of miles of gathering lines and transmission lines does demonstrate change in aggregate ownership, but not clear it is all due to mergers (e.g., I thin NNG is just capital expansion), nor does the connection get made that this has lead to innovative or enhanced service offerings. I do think excellent points can be made about the deregulation/divestment of gathering, and getting it out of federal regualtroy purview, but that is not in the speech at this point. Sixth, you describe "network industries" well, but in the broader context of your speech, I think your listeners will assume you are referring to the physical network, rather than the Enron vision, which you capture accurately, nor is it easily understood how this demonstrates or adds to your point about convergence. Seventh, in your table of converged companies, you could be asked about the fact that Duke has already disposed of the pipeline assets it acquired in the PanEnergy deal (since sold to CMS), apparently keeping only the trading business. Also, our pieeline assets to do not serve our cogen facilites in NJ, so not clear to me that thisdemonstrate convergence in the East Coast. Hope this helps. I will be travelling today and Monday, but if you have questions, please leave me voice mails, and I will return your calls. P.S. at p. 7 you describe "secular" change. I assme that this should read "sectoral" change. Mark
Greg, I have never been to a tasting before. Will there be some small foods to go along with the wine? Enron Capital & Trade Resources Corp. From: "Greg Giordano" <giordano@wt.net> 07/26/99 08:22 PM To: mdoolittle@dttus.com, contactus@cafemaison.com, woa@houstonwines.com, stevez@instructionset.com, hwatkin2@csc.com, kelly_waldner@watsonwyatt.com, dean_strombom@gensler.com, drtomspa@flash.net, shaha@uthscsa.edu, pmelcher@aol.com, "Bonny McLoud" <bonny_mcloud@gensler.com>, cmartin@flash.net, kusznag@texaco.com, Shirley A Hudler/HOU/ECT, harrissue@worldnet.att.net, wydawake@neosoft.com, mojofox@neosoft.com, Suzanne Ferlic/HOU/ECT, kfarr@belmontvillage.com, chris@bmeg.com, erice2@csc.com, ralbon@aol.com, Lawrence Lawyer/HOU/ECT, egiordano@dttus.com, greg_giordano@gensler.com, "Paul Aranowitz" <paranowitz@shb.com>, "afa@firstnethou.com"@sys32.hou.wt.net, "robynt@ix.netcom.com"@sys32.hou.wt.net, mmiles@el.enron.com, "Eric Brown" <darkone@bga.com>, "Tim Kelly" <timandsusankelly@mindspring.com>, "Wade and Marcia" <wabrewer@flash.net>, bsimpson@hypercon.com, diannashipman@worldnet.att.net, Sheehanmetny@worldnet.att.net, rschmidt@drypers.com, eroufa4079@aol.com, rrufina@aol.com, eriker@csc.com, GPUETZ@STC.NET, danielle_napolio@gensler.com, krlinder@earthlink.net, pcksmk@earthlink.net, davidkjr@hotmail.com, margaret.johnson14@gte.net, echack@crl.com, frogus123@aol.com, fjgar@aol.com, bpdavenport@shellus.com, acruz@bakerbotts.com, keith@hal-pc.org, DAC2PAC@aol.com, mpbhoutex@aol.com, warcinc@writingandresearch.com, dbui@neosoft.com, Kortney Brown/HOU/ECT, lblackburn@houston.geoquest.slb, cblack@brco.com, mbang@metamorww.com, john_adams_1@csi.com, vino@tastesoftime.com, cara_hines@gensler.com, katherine.beeson@sci_us.com, tpatel2@pdq.net, stohrv@bisys.com, jgriff-sh@msn.com, kennardb@aol.com, jmoore1@pdq.net, mcurtis@obg.med.uth.tmc.edu, paul.nicosia@chron.com, jherring@pdq.net, webbpage@flash.net, Alexis1@pdq.net, kurotte@worldnet.att.net, max_steele@gensler.com, cindy_farrar@gensler.com, jlla@aol.com, aduran@ei.enron.com, Nishihara-S@marubeni-usa.com, wmarlow@bracepatt.com, mccrajw@texaco.com, barryc@oceanenergy.com, tomhuntington@hotmail.com, sant2@aol.com, tltarant@mainstreethouston.com, dlathi@yahoo.com, dave_painter@gensler.com, genevieve_michels@gensler.com, jeff_horning@gensler.com, paul_homeyer@gensler.com, debbie_harris@gensler.com, judith_grahn@gensler.com, nina_boyd@gensler.com, dweiss@dttus.com, Kim Zachary/HOU/ECT, Jim@haverly.com, msiw3@aol.com, hefty@wt.net, asuarez2@ei.enron.com, sendEvents@houston.sidewalk.com, snowdenlb@aol.com, csmith@denaliincorporated.com, Mike Shannon/HOU/ECT, michele_see@gensler.com, treid@ei.enron.com, creich@ix.netcom.com, toetruk@aol.com, mollie_hill@gensler.com, sharris@amresco.com, delias@dttus.com, greg_lacour@gensler.com, dmdoolit@hal-pc.org, jdebevec@belmontvillage.com, teresa.cannon@cna.com, ccannon@sfcm.com, hbrubaker@eprime.com, jaybbz@aol.com, kboas@stewart.com, ebelton@clearsail.net, sbajori@ect.enron.com, phyllis.baacke@ljmelody.com, slaydon@ix.netcom.com, doryce@flash.net, aetaylor@concentric.net, unity@phoenix.net, gv691176@bcm.tmc.edu, jami_e_zinkham@amoco.com, david_miratsky@csc.com, evick@ems.jsc.nasa.gov, swilson@btmny.com, tallely98@yahoo.com, phyrwmn2@aol.com, claude474@yahoo.com, driddle@enron.com, spritchett@restechinc.com, cshield@psp.com, igarza@hpl.lib.tx.us, alanders@hpl.lib.tx.us, bfickman@swbell.net, urenggli@msn.com, jpdryden@texas.net, jbox@ect.enron.com, karissaj@aol.com, akarpinos@dttus.com, info@pipingtech.com, lisa_wilmore@valic.com, bylim30@hotmail.com, tracy.thompson@halliburton.com, "drew@food4u.com"@sys32.hou.wt.net, karent@netropolis.net, pdv@pdq.net, Gerald Nemec/HOU/ECT, brian.freeze@gte.net, tedsw@aol.com, pld@coastalsecurities.com, jbrownlie@pdq.net, "larry_milo@msn.com"@sys32.hou.wt.net, "caroltom99@aol.com"@sys32.hou.wt.net, carino@evl.net, mj3@pdq.net, zztop@wt.net, adamlisa@gateway.net, usnick@hic.net, jhoare@gte.net, rasbooty@aol.com, ldking@ijpc.com, mkting@aol.com, daroofguru@aol.com, jstudlick@unocal.com, "waynee147@aol.com"@sys32.hou.wt.net, bewley_s@mciworld.com, "jechiflyer@aol.com"@sys32.hou.wt.net, "lworkin@pdq.net"@sys32.hou.wt.net, "provo22@aol.com"@sys32.hou.wt.net, "couns@gateway.net"@sys32.hou.wt.net, "cklein3795@aol.com"@sys32.hou.wt.net, overjoed@flash.net, "la_smith@msn.com"@sys32.hou.wt.net, "junerive@flash.net"@sys32.hou.wt.net, "wendy.kurtz@gte.net"@sys32.hou.wt.net, "jephross@velaw.com"@sys32.hou.wt.net, "brives@marblefalls.txed.net"@sys32.hou.wt.net, "sca905@swbell.net"@sys32.hou.wt.net, "sandarcool@aol.com"@sys32.hou.wt.net, "barbara.eckrote@gte.net"@sys32.hou.wt.net, "tmpi@chevron.com"@sys32.hou.wt.net, "skathol@enron.com"@sys32.hou.wt.net, "andrea_price@enron.com"@sys32.hou.wt.net, "hamilton@pdq.net"@sys32.hou.wt.net, "tomj@amerstu.com"@sys32.hou.wt.net, "ricstar@compuserve.com"@sys32.hou.wt.net, "rgitti@coair.com"@sys32.hou.wt.net, "sandracollazo@yahoo.com"@sys32.hou.wt.net, "eswisher@leschaco.com"@sys32.hou.wt.net, "gmantinkhou@lesacho.com"@sys32.hou.wt.net, "harriss6@nationwide.com"@sys32.hou.wt.net, "ederle@hal-pc.org"@sys32.hou.wt.net, "stacey.gillespie@rhic.com"@sys32.hou.wt.net, "derek.dover@compaq.com"@sys32.hou.wt.net, "jgrana@farm1.med.uth.tmc.edu"@sys32.hou.wt.net, "cbouquet@yahoo.com"@sys32.hou.wt.net, "lmangus@bcm.tmc.edu"@sys32.hou.wt.net, "acolom@gateway.net"@sys32.hou.wt.net, "ragiel@gateway.net"@sys32.hou.wt.net, "lholub@hotmail.com"@sys32.hou.wt.net, "bvick@santafe-snyder.com"@sys32.hou.wt.net, "geotech@neosoft.com"@sys32.hou.wt.net, "andrea_price@enron.com"@sys32.hou.wt.net, "mms@pdq.net"@sys32.hou.wt.net, "george-schaefer@reliantenergy.com"@sys32.hou.wt.net, "jdaigle@cef.ci.houston.tx.us"@sys32.hou.wt.net, "carol410@aol.com"@sys32.hou.wt.net, "climber61@aol.com"@sys32.hou.wt.net cc: Subject: Tasting List for August 5th The next La Joie du Vin wine tasting is fast approaching! Our "Italian Reds" tasting is August 5th and the deadline to reserve a seat - Monday, August 2nd - is less than a week away. Admission is $30 for our members and $35 for nonmembers. To ensure seats, mail your check to 3262 Westheimer, #123, Houston, Texas, 77098. Our tasting will will be a tour of Italy's wine growing regions: From Sicily, Planeta 'La Segreta' 1998 Rosso; From Umbria, Falesco 'Vitiano', 1998; From Abruzzo, Contaldi Madonna 1997 Montepulciano d'Abruzzo; From Tuscany, Fontodi 1996 Chianti; From Veneto, Zenato 1996 Ripassa; and From Piedmont, Vignaioli 1995 Barbaresco. As always, visit our website at http://www.lajoieduvin.org/events/1999august.htm for more detailed information. Sincerely, Greg Giordano Director If you would like to be removed from our mailing list, please reply to giordano@wt.net with the word "Remove" in the subject heading. - att1.htm
[IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Thursday?October?26?2000 [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] OPINION WORLD BUSINESS FINANCE SCIENCE PEOPLE BOOKS & ARTS MARKETS DIVERSIONS [IMAGE] [IMAGE] PRINT EDITION THE ECONOMIST [IMAGE]Full contents [IMAGE]Subscriptions [IMAGE] Customer service To stop receiving this newsletter, please send an e-mail with "unsubscribe" in the subject line to politics-off@ lists.economist.com If you are a registered user at The Economist website, you can sign up for or cancel the text and html versions of this newsletter or change your e-mail address by amending your details. If you would like to advise us of a new e-mail address and are not registered at The Economist website, please send an e-mail with your request to: economist- newsletters@ lists.economist.com [IMAGE] [IMAGE][IMAGE] [IMAGE] [IMAGE] [IMAGE] The world this week Oct 26th 2000 From The Economist print edition Guei outed EPA After a flawed election in C"te d,Ivoire President Robert Guei claimed victory, but was then forced by popular protest to flee. His main opponent in the election, Laurent Gbagbo, proclaimed himself president, but rival candidates called for new elections amidst more violence. See article: Cote d,Ivoire,s new presidentE+ Zimbabwe,s opposition party, the Movement for Democratic Change, started impeachment proceedings against President Robert Mugabe. Mr Mugabe responded by saying it was time to revoke the policy of reconciliation between black and white Zimbabweans. Some of the former white leaders, he said, should be tried for genocide. See article: Mugabe,s battle for survival To general surprise, including his own, Ruud Lubbers, a Dutch former prime minister, was named by Kofi Annan, the UN,s secretary-general, as the new UN High Commissioner for Refugees (UNHCR), succeeding Sadako Ogata. See article: Ruud Lubbers, refugee supremoE+ In South Africa the government launched a new campaign to inform the public about AIDS. Over 4m South Africans are said to be infected with HIV, but government statements have left many people confused about how it is transmitted. An Arab summit, the first for four years, was held in Cairo to consider the Israeli-Palestinian conflict. The Arab leaders produced a fiery statement but Egypt and Jordan both decided to keep their links with Israel. See article: After Middle East peace has crashedE+ Police muscle helped Egypt,s ruling party to dominate the first round of parliamentary elections. But the Muslim Brotherhood made surprising gains. A report by marine biologists estimated that 50-95% of the coral reefs in the Indian Ocean have died. Warmer seas over the past two years have caused the damage. See article: Coral reefs in dangerE+ Kost effective Yugoslavia,s new president, Vojislav Kostunica, persuaded supporters of his ousted predecessor, Slobodan Milosevic, in the Serbian parliament to back a power-sharing government that will rule until a general election is held in December. Mr Kostunica also went to neighbouring Macedonia for talks with other Balkan leaders, after he admitted that Serb soldiers and police had carried out large-scale killings in Kosovo last year. See article: New calculations for Kosovo EPA France said it would extend its tests for BSE, known as &mad-cow disease8, after three supermarket chains were found to have sold meat from infected herds. France,s food-safety agency also recommended a ban on the use of animal fats in feed given to cattle and sheep. Magistrates told France,s former finance minister, Dominique Strauss-Kahn, that he must stand trial on suspicion that he falsified documents when he was a lawyer. EPA Laurenz Meyer took over as general secretary of the troubled Christian Democrats in Germany, replacing Ruprecht Polenz after only six months in the job. Election nerves A senior adviser to George W. Bush, the Republican presidential candidate, said the United States should rethink its role in the Balkans and tell its NATO allies that American soldiers would no longer perform peacekeeping duties in the region. Al Gore, the Democratic candidate, said such a policy would be dangerous and risked undermining peace in Europe. See article: The battle for Florida Roger Wilson took over as Missouri,s new governor replacing Mel Carnahan, who died in a plane crash. Mr Wilson said he would nominate Mr Carnahan,s widow as senator, if her late husband won the race for the Senate. Mr Carnahan,s name cannot be replaced on ballot papers before the election. After Peru,s disgraced spy chief, Vladimiro Montesinos, flew back from exile in Panama, President Alberto Fujimori personally led a manhunt to track him down. The head of the Organisation of American States, Cesar Gaviria, arrived in Lima, the capital, for talks on democracy in Peru. Government and opposition agreed to hold new elections by April 8th. See article: Montesinos returns to PeruE+ As Colombia approached local and regional elections the campaigns were marred by violence. International donors promised $280m in new aid to promote peace, but this fell well short of what President Andres Pastrana had been hoping for. See article: Election jitters in Colombia Kimrades Reuters The American secretary of state, Madeleine Albright, said &important progress8 had been made in her two days of talks in Pyongyang with the North Korean leader, Kim Jong Il. The United States wants the North to stop making missiles, some of which have been sold to outlaw states. A possible visit to North Korea by Bill Clinton was discussed. See article: Madeleine Albright in Pyongyang Ending a lull in Sri Lanka,s civil war, Tamil Tigers attacked the country,s main naval base in Trincomalee, sinking a troop carrier and a gunboat. See article: Lynch law in Sri LankaE+ Government troops rescued three more hostages, all Malaysians, held by Muslim rebels on Jolo island, in the southern Philippines. About 6,000 people marched through Manila,s financial district, calling on Joseph Estrada to resign as president of the Philippines. There were similar demonstrations in five other cities and his vice-president echoed the call. Mr Estrada said he would step down if corruption charges are proven. [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] GO TO ECONOMIST.COM , Copyright 2000 The Economist Newspaper and The Economist Group. 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Hey, Queshare, how goes it? My assistant should have some plane reservations for me by the end of the day to discuss with you! Peter Keohane 02/07/2001 02:45 PM To: Edward Sacks/Corp/Enron@Enron cc: Mary Cook/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron, Susan Bailey/HOU/ECT@ECT, Andre Templeman/CAL/ECT@ECT, Tracy Ngo/PDX/ECT@ECT, William S Bradford/HOU/ECT@ECT, Wendy Conwell/NA/Enron@ENRON, Paul Radous/Corp/Enron@ENRON, Russell Diamond/HOU/ECT@ECT Subject: Re: Nexen Energy - Credit Worksheet Our outside counsel has confirmed that the Partnership is a General Partnership under Alberta law under the name Nexen Marketing (f/k/a CXY Energy Marketing), and the GPs are Nexen Inc., Wascana Energy Inc. and Nexen Holdings Canada Ltd. The GPs would each be jointly and severally liable for the Partnership as I outlined previously. I will fax Ed and Mary a copy of the Partnership search when I receive it.. My assistant will forward the message I received from outside counsel. Peter. ---------------------- Forwarded by Peter Keohane/CAL/ECT on 02/07/2001 01:36 PM --------------------------- Enron Capital & Trade Resources Canada Corp. From: Peter Keohane 02/07/2001 11:23 AM To: Edward Sacks/Corp/Enron@Enron cc: Mary Cook/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron, Susan Bailey/HOU/ECT@ECT, Andre Templeman/CAL/ECT@ECT, Tracy Ngo/PDX/ECT@ECT, William S Bradford/HOU/ECT@ECT, Wendy Conwell/NA/Enron@ENRON, Paul Radous/Corp/Enron@ENRON, Russell Diamond/HOU/ECT@ECT Subject: Re: Nexen Energy - Credit Worksheet Our outside counsel tells me that there is no record at Corporate Registry of Nexen Energy Limited Parnership. I think you need to confirm the entity and the org. chart. Also, the ISDAs are kept in Houston, as legal Houston is responsible to prepare. Nonetheless, we generally keep copies, but do not seem to have an a copy of an ISDA with CXY Energy Marketing, CanadianOcccidental or Nexen Energy in the Calgary office, so I cannot confirm if it makes any reference chnage of control MACs, etc. Peter. ---------------------- Forwarded by Peter Keohane/CAL/ECT on 02/07/2001 11:16 AM --------------------------- Enron Capital & Trade Resources Canada Corp. From: Peter Keohane 02/07/2001 09:43 AM To: Edward Sacks/Corp/Enron@ENRON cc: Mary Cook/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron, Susan Bailey/HOU/ECT@ECT, Andre Templeman/CAL/ECT@ECT, Tracy Ngo/PDX/ECT@ECT, William S Bradford/HOU/ECT@ECT, Wendy Conwell/NA/Enron@ENRON, Paul Radous/Corp/Enron@ENRON, Russell Diamond/HOU/ECT@ECT Subject: Re: Nexen Energy - Credit Worksheet Just a few points, which I explained to Ed yesterday: 1. If Nexen Energy is a Limited Partnership formed under Alberta law, and Nexen Inc. is the General Partner, Nexen Inc. is jointly and severally liable for all obligations of the Partnership until it ceases to be the GP. 2. Upon Nexen Inc. ceasing to be the GP, it will remain jointly and severally liable for all unfulfilled obligations of the Partnership incurred to us up to the time it ceases as GP unless we otherwise agree. 3. The result is therefore equivalent in substance (if not in detail) to a Guarantee from Nexen Inc. The only difference is that if a Guarantee is terminated, we have written notice of termination to act upon, whereas Credit may have to monitor the structure of the Partnership to ensure that Nexen Inc. remains as GP. 4. This is structure which we have been willing to transact on in the past in numerous other cases, subject to the following: (a) a specific MAC event for Nexen Inc. ceasing to be the GP; and (b) a specific continuing rep. of the Partnership (breach of which would result in and E of D) that it is a Limited Partnership formed under the laws of Alberta, and that its GP is Nexen Inc. 5. If Ed wanted more comfort, I suggested that we could add Nexen Inc. as a party to acknowledge that the Partnership is a Limited Partnership formed under the laws of Alberta and that it is the GP, and to covenant that it will provide written notice in the event that it ceases to be the GP. 6. In terms of what is the actual structure, although I believe credit typically resolves these issues, the contractual matters referred to above should go along way to address Ed's concerns. I also suggested to Ed that he do a preliminary search of the Nexen Inc. web page to get an org. chart and information, and then to follow-up with Nexen Inc. to get a copy of the Proof of Filing of the Certificate of Limited Partnership issued by Alberta Corporate Registry for Nexen Energy, which should indicate Nexen Inc. as the GP. In any event I have asked outside counsel to obtain a copy of the the Proof of Filing, which I will circulate upon receipt.. I trust the foregoing is helpful. Edward Sacks@ENRON 02/06/2001 07:18 PM To: Mary Cook/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Peter Keohane/CAL/ECT@ECT, Samantha Boyd/NA/Enron@Enron, Susan Bailey/HOU/ECT@ECT cc: Andre Templeman/CAL/ECT@ECT, Tracy Ngo/PDX/ECT@ECT, William S Bradford/HOU/ECT@ECT, Wendy Conwell/NA/Enron@ENRON, Paul Radous/Corp/Enron@ENRON, Russell Diamond/HOU/ECT@ECT Subject: Nexen Energy - Credit Worksheet As per the attached credit worksheet, please amend the ISDA dated 11/17/98 between ENA and Nexen Energy (formerly CXY Energy Marketing). This will need to be placed on a priority list as Andre is intending on transacting in a short time frame. In addition, I believe that it would be prudent to get some form of confirmation regarding the corporate structure (general partnership). We have historically been operating under the assumption that Nexen Inc. is general partner and I have underwritten the credit based on the financial health of Nexen Inc. Unlike a formal guaranty agreement whereby we would receive notice if the guaranty were to be revoked, this structure is difficult to monitor as there is no obligation to notify Enron of ownership changes and new transactions may be entered into without the support of Nexen Inc to the extent a change in the structure has occurred. Please reply with comments or questions. Ed Sacks
FYI.... Jane Wilson is our government affairs person in Mumbai. ----- Forwarded by Steven J Kean/NA/Enron on 12/17/2000 08:38 PM ----- Jeffrey Sherrick 12/15/2000 06:28 PM To: Cliff Baxter/HOU/ECT@ECT, James Derrick/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Rebecca McDonald/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mike Stewart/Corp/Enron@ENRON, Larry Morse/Corp/Enron@Enron cc: Jack Harmuth/Corp/Enron@ENRON, Dominic Carolan/NA/Enron@ENRON, John Ambler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jane Wilson/Enron@Gateway, Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stephen Wallace/Corp/Enron@ENRON Subject: EGEP/EOGIL Customs Duty Inquiry on Offshore Production We were served summons by the Customs Office in Surat asking for meetings with our platform managers and on Dec.12th we sent two representatives (operations mgr & legal) to answer their questions. Over a two day period they inquired about production and logistical issues and asked a number of questions regarding product delivery points, pricing formulas, etc. In summary, they are trying to build a case that the gas and maybe even the crude we sell in India is subject to a 10-12% customs duty since it is produced outside of the 12 mile territorial limit. They are trying to make the case that we are importing the gas and oil into India. Obviously this is not the case and there is no merit for such consideration, but we don't want to let this idea get entered as a show/cause filing against Enron and our partners. There would be remedies such as court or arbitration, but the timing to resolve this is probably 1-2 years. Furthermore, this issue would most likely impact current efforts we have on-going. Therefore, we are taking the issue very seriously and plan to meet in Mumbai next Thursday to chart an appropriate course of action. Once we meet, we will get back to Cliff and Jim Derrick regarding our recommendation on Thursday morning December 21st Houston time. Cliff and Jim, if you are planning to be out of the office, please drop me an e-mail where you can be reached. Meeting in Mumbai next Thursday will be Chris Walker of Linklaters, local Indian counsel (Saberwal ?), myself, Mike Stewart, Dominic Carolan (EGEP legal), and certain representatives from EOGIL. We would also like to have Jane Wilson(EIPL Gov't & Regulatory affairs for India) present if she is available. Jane it is not mandatory that you are present, but if you can't attend could you send me an e-mail where I could reach you if necessary. The meeting will be at EOGIL's office and Fatima Samuel will confirm the time and place once Chris Walker's schedule is known. It is my understanding that Chris Walker will be in India on Tuesday and Wednesday working with Wade's group on other matters. This issue came up originally in 1997 right after we started producing gas at Tapti. At that time we had 3 legal opinions prepared and the legal team tells me the positions were very strong in our favor on a variety of fronts. After a few meetings and a couple of letters the issue went away and never resurfaced again until now. We suspect that this issue has been an open item since that time and for a variety of reasons (ongoing activities ?) someone feels it needs to be checked off the list. Hence, the revived interest at this time. The reason we are giving this such a high level of attention is probably obvious, but the reason we want to act upon our plan immediately once we get together next Thursday may seem less necessary. However, today our office received 3 more summons for 3 different people to report to Surat next Tuesday, Wednesday and Thursday. This time they have asked for our production manager, logistics manager and lead accountant. We have requested an extension due to the short notice and holiday season and expect to have it granted, but we will not know if it is postponed before Monday. (If we have to go we will have legal counsel attend with the individuals named) This level of back to back activity for a government office at this time year is a concern. Going into the meeting with the legal guys on Thursday, we are thinking that we need to have a highly respected person(such as Saberwal) deliver our message (to multiple groups, i.e., Surat customs, Ministry of Finance, Mopng) as to the lack of validity for this potential claim and what we would do if they proceed. By Thursday I think we will have all of the necessary "color" on this issue and with the team mentioned above we will be able to develop the right plan of action. However, due to the level of interest and activity of the Surat Customs group, we anticipate that our recommendation will be to move quickly, hence, my desire to contact Cliff and Jim next Thursday for approval to proceed. I have included Wade and Rebecca(EIPL) as well as Steve and John(PR) for information purposes at this time. This first stage plan we will be seeking approval for next Thursday will be to meet with certain people in an attempt to keep this from becoming an issue. This should be a fairly quiet issue (for Indian standards) next week and even the subsequent meetings that I'm anticipating would take place in the following two weeks ought to be very low keyed items. However, in India you never know and considering some of the existing press of recent we should get prepared and make sure we are co-ordinated. John, following our Thursday decision we should probably talk about our plan so if you'll leave me a note where you can be reached, I'd appreciate it. In summary, the odds are we will be able to manage this and it won't become a big issue. However, we need to take this very seriously and deal with it proactively and quickly before someone files something without understanding the consequences of the action. I am leaving for India on Sunday and when possible I will pick up my mail. I will also be checking voicemail if you need to leave a message. I will be the Mumbai office on Tuesday, Thursday and Friday and in Delhi on Wednesday. Jeff
----- Forwarded by Richard B Sanders/HOU/ECT on 10/18/2000 02:56 PM ----- Eric Thode@ENRON 10/18/2000 02:54 PM To: Richard B Sanders/HOU/ECT@ECT cc: Subject: San Diego Union Tribune ---------------------- Forwarded by Eric Thode/Corp/Enron on 10/18/2000 02:55 PM --------------------------- Eric Thode 10/18/2000 02:41 PM To: Mark Palmer/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron, James D Steffes/NA/Enron@Enron cc: Subject: San Diego Union Tribune Have you seen this? Eric Power-company profits climb along with prices By Craig D. Rose UNION-TRIBUNE STAFF WRITER October 18, 2000 A power company executive yesterday boiled California's ongoing electricity crisis down to the bottom line. "Prices are rising, and I know that's hurting consumers ) but it certainly has been beneficial for Enron," said Jeffrey Skilling, president and chief operating officer of the Houston-based energy and trading company. Enron declined to specify how much it earned from California during the past summer, when the state's deregulated electricity market sent power prices soaring. But the Texas company did say that profits of its sales and services unit ) which trades California electricity and o ther commodities ) increased 135 percent to $404 million. Dynegy Inc., also based in Houston, reported that income from its marketing and trade unit soared more than 300 percent to $142 million. Steve Bergstrom, president of Dynegy, said California was perhaps only the third-biggest contributor to that surge. But industry analysts said the earnings reports are the first indication of a pattern expected in coming weeks. "California clearly drove the positive momentum at both of these companies," said Carol Coale, senior analyst of Prudential Securities. "And you probably just saw the beginning of a string of strong reports (from the power industry)." She and others say they suspect that power companies derived billions in profits from the state, where tight supplies set the stage for huge price increases. Companies did not necessarily have to own generating plants to profit from the deregulated market. Enron produces no electricity in California but is the nation's largest electricity trader, buying and selling the output of power plants owned by other companies. Rep. Duncan Hunter, R-El Cajon, said the big profits should be seen in something other than a business context. "These massive profits by the energy companies translate directly into thousands of San Diegans losing savings that were planned for education, mortgage payments, health care and other . . . necessities," Hunter said. When the state power exchange saw dramatic price increases within a matter of hours, "it was clear that predatory pricing was producing massive profits for someone," Hunter said. Hunter insists that recent power prices violate federal law mandating that rates be "just and reasonable." He is calling for the Federal Energy Regulatory Commission to order refunds. FERC is scheduled to issue a report on the California market by Nov. 1. The political fallout from the price increases, meanwhile, appears to weigh heavily on power companies, which are reluctant to tout successes in California for fear of being singled out for profiteering. After noting that Dynegy's recent acquisitions in Illinois contributed strongly to the company's success last quarter, Bergstrom was reminded that he had omitted mention of California. "Illinois is not as politically volatile as California," Bergstrom said. He acknowledged that Dynegy did "pretty well" in California because its power plants produced far more electricity this year than last. Bergstrom also sought to correct an earlier report that Dynegy had quickly recouped the cost of power plants it recently acquired in the state. He said that was true only of the plants it owns in Long Beach and El Segundo, which it bought in 1998. Bergstrom said the cost of Dynegy's half interest in the former San Diego Gas & Electric Encina power plant in Carlsbad ) acquired at the end of 1998 ) had not been recovered. Typically, plant operators assume that it will take as long as 20 years to recoup such costs. In comments to financial analysts, Skilling, of Enron, suggested that power companies could help provide a solution to California's power problems. "Supply constraints and the resulting price pressures in California and other locations have demonstrated the need for skilled marketers like Enron to provide reliable power and stable prices," Skilling said. He predicted that California's utility companies ) which now buy much of their power from other companies ) would sign long-term contracts to stabilize prices, following an approach suggested by many power generators and traders. "If they were willing to extend the terms of their purchases to 10-year contracts, then they could get contracts for $50 a megawatt, which is not much different than they were paying two or three years ago," Skilling said. But consumer advocates have noted that long-term contracts at those levels would lock consumers into price increases and leave them with little choice about suppliers. Advocates of electrical deregulation had predicted that introducing competition would lead to reductions in power costs and to greater consumer choice. Harry Snyder, senior advocate for Consumers Union in San Francisco, said he was skeptical of solutions proposed by the power industry. "Any proposal from the industry has to be suspect because they have engaged in faking out the California public and price gouging when there are shortages," said Snyder, who advocates an end to deregulation. "They do not have consumer interests at heart."
----- Forwarded by Mark Taylor/HOU/ECT on 09/15/2000 06:14 PM ----- Peter Keohane Sent by: Sharon Crawford 09/15/2000 05:39 PM To: Soma Ghosh/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Clement Abrams/Corp/Enron@ENRON, Derek Davies/CAL/ECT@ECT, Andre Templeman/CAL/ECT@ECT, Tana Jones/HOU/ECT@ECT cc: dpef@blakes.com Subject: Alberta PPA Financing I thought I might try to sum up. It seems to me that we both need to finalize the structure as well as co-ordinate across various groups such that we all know what each is doing with the view to funding on time by the end of next week. 1. As soon as possible next week (i.e. Monday) we need to finalize the swap structure including the credit and covenant package. 2. If there is not already a Term Sheet in place, it may be useful to have one prepared. Frankly, it seems from my various discussions with Global Finance, Credit, Origination, Enron Corp., Royal Bank of Canada and its external counsel and our external counsel, that there are certain agreements, documents, deliverables and covenants that are being expected by, or exchanged between, the parties, but which are not being communicated among each other and we are therefore working at cross purposes. Frankly, unless and until we know what the structure is to look like, what the credit and financial covenants are to look like, and what the documentation expectations are, it is difficult if not impossible to prepare documentation. For example: (a) I had a confusing conversation with the Bank as to the form of Guarantee they were expecting from Enron Corp. I was trying to require the Bank to accept an Enron Corp. standard form Guarantee, whereas the Bank was looking for a long form Guarantee that includes the covenants, representations and warranties of Enron Corp. in its revolving credit facilities. Based upon this disagreement, I left a message for Clement to the effect that we may have a problem to resolve. However, Clement was kind enough to advise me by voice mail that in fact Enron Corp. does not have a problem with giving a long form Guarantee of this nature and that the form of Guarantee had in fact been provided (by whom I'm not sure) to the Bank. (b) The Bank was enquiring as to what would be the governing law of the Enron Corp. Guarantee, to which I advised it would be Texas law. However, I now understand there may be some agreement (by whom I'm not sure) to have the Enron Corp. Guarantee governed by New York law. (c) In any event, I understand that the Bank will be looking for a form of enforceability opinion from Enron Corp.'s outside legal counsel with respect to the authorization, execution, delivery and enforceability of the Enron Corp. Guarantee, as well as certain conflicts of laws opinions with respect to the governing law of the Guarantee (Texas/New York) being enforceable. (d) In my discussions with the Bank this afternoon, it also became aware to me that the Bank is expecting external counsel legal opinions with respect to Enron Canada. Blake, Cassels & Graydon is prepared to provide those legal opinions. (e) As noted above, I have discussed with the Bank that the governing law of the underlying swap documents would be Alberta, to which they seemed fine. I suggested that Ontario law would also be acceptable. (f) I assume that Enron Canada ought to obtain legal opinions from the Bank's external counsel with respect to the documents and obligations of Swapco (and perhaps even the Bank), but I will need to have this confirmed. (g) It came to my attention during my conversations with the Bank this afternoon that Swapco (or financing SPV) is unaffiliated to the Bank. This presents problems as, I understand for accounting purposes, the two swaps involving Enron Canada cannot be linked, for example by cross-defaults. At the same time unaffiliated exposures under de-linked transactions may not be capable of being set-off. We undertook to attempt to remedy this situation through broadening the set-off concepts under the ISDA Master Agreements. (h) I do not think the Bank frankly (nor anyone else) has a firm grasp on the credit/collateralization/margin requirements, which I think is dependent upon a final understanding of the swap structure. (i) From my discussions with the Bank, it seemed to me that they were not clear as to how their fees and costs would be repaid through the swap structure. Although it might be as simple as adding these amounts to the principal amount of the swaps, I suggested that the Bank prepare a separate "fee letter" to recover its fees. More problematically, the Bank was not clear as to how "increased costs" would be accounted for in the swap structure. Generally speaking, a Bank credit agreement contains provisions that if there are increased costs of funding to the Bank as a result of a change in Bank regulations or lending or reserve requirements, those increased costs are flowed through. They were not sure how this could be accommodated in a swap structure. I suggested that there may be some way to fix this through a price adjustment mechanism in the fixed price or volumes or through a separate indemnification in the "fee letter". (j) The Bank is anxious to see paper, and I am not sure who is preparing the paper and consolidating it in a distribution package to the Bank. For example, I think a package that includes all of the swap Master Agreements and related documentation (which I believe Mark T's group will prepare in Houston), the Enron Corp. Guarantee (which I've indicated above seems to have already been provided in draft to the Bank) and all other documentation needs to be sent to the Bank as soon as possible, as well as to Blake, Cassels & Graydon and Vinson and Elkins if they are to be giving legal opinions to the Bank in connection with the transaction. Of course this depends on finalization of the structure as well as the credit and other covenants package. In concept, I have told the Bank, and I believe the Bank agrees, that the form of the ISDA Master and related documentation would be the same as the form of ISDA Master which currently exists between ENA and Royal Bank of Canada, and the Bank asked that they at least be provided with that paper as soon as possible. Perhaps Tana could look after delivering that as soon as possible, if not this afternoon, Monday morning. Frankly, I think this project, if it is to get funded on time, needs a measure of co-ordination and communication of internal and external expectations. It may be worthwhile to convene a conference call with all relevant groups (i.e. Legal/Global Finance/Credit/Origination) on Monday morning. Regards, Peter
----- Forwarded by Jeff Dasovich/NA/Enron on 03/07/2001 11:28 AM ----- "Daniel Douglass" <Douglass@ArterHadden.com> 03/07/2001 11:27 AM To: <Barbara_Klemstine@apsc.com>, <Bob_Anderson@apses.com>, <Vicki_Sandler@apses.com>, <berry@apx.com>, <dcazalet@apx.com>, <billr@calpine.com>, <jackp@calpine.com>, <Ken_Czarnecki@calpx.com>, <gavaughn@duke-energy.com>, <rjhickok@duke-energy.com>, <gtbl@dynegy.com>, <jmpa@dynegy.com>, <jdasovic@enron.com>, <susan_j_mara@enron.com>, <Tamara_Johnson@enron.com>, <curt.Hatton@gen.pge.com>, <foothill@lmi.net>, <camiessn@newwestenergy.com>, <jcgardin@newwestenergy.com>, <jsmollon@newwestenergy.com>, <rsnichol@newwestenergy.com>, <nam.nguyen@powersrc.com>, <Curtis_L_Kebler@reliantenergy.com>, <rllamkin@seiworldwide.com> cc: Subject: GAO Investigation On Monday, 2 March 200, U.S. Representatives Jay Inslee and Peter Defazio (OR-04) requested that the investigative arm of Congress research whether energy producers have been "gaming the market" and unfairly jacking up energy prices in the Western United States. "My constituents have seen huge increases in their energy prices, and I have seen some reports suggesting that energy producers have deliberately withheld energy from the market in order to drive prices even higher. I am requesting that the GAO investigate this possible market manipulation, and determine whether these reports are accurate," said Inslee. Following is text of the Congressmen's letter to the General Accounting Office: March 5, 2001 David Walker Comptroller General of the United States General Accounting Office 441 G Street NW Washington, DC 20548 Dear Mr. Walker: We are writing to request that the General Accounting Office (GAO) investigate whether power shortages and the subsequent skyrocketing energy prices in California, which has had serious ripple effects throughout the Western United States, was due to market manipulation by energy producers. We are concerned about allegations that energy producers have been manipulating the market by pulling generators offline for no justifiable reason, thus creating an artificial scarcity of energy in order to drive up prices. The apparent energy shortages in the Western United States will undoubtedly raise issues as to whether we as a nation change our policies toward developing our energy resources and whether we change the manner in which we currently operate Federal hydroelectric facilities. For example, many elected officials have used the energy crisis as an argument to drill for oil in the Arctic National Wildlife Refuge, and to open for oil and gas exploration millions of recently protected National Forest lands. To answer these important policy questions which will be considered in the House Committee on Resource, a committee on which we both sit, we believe that we must have an accurate understanding of the causes of the current energy crisis. We recognize there are many contributing factors to the current energy crisis, including high natural gas prices, a lack of generation and transmission capacity, and California's failed effort to deregulate its energy market. While the economics of supply and demand lead to the conclusion that the scarcity of generation in California has contributed to the high energy prices, it is not clear why there is such a scarcity. Many analysts point to such variables as inadequate water supplies and the need for increased maintenance as the cause for so much generation unexpectedly being taken offline in California. According to information we have seen, however, these factors do not come close to fully explaining the scarcity of energy supplies in California. For example, it is our understanding that in an absolute low water year, California has more than 45,000 mW of generating capacity available. According to the Western Systems Coordinating Council (WSCC), the entity to which all power generators in the West are required to report their power availability, California has been importing more than 2,000 mW of power, while recent peak demand in California on those same days has hovered around only 30,000 mW. While almost 10,000 mW of this 17,000 mW difference is duly accounted for as being offline either through planned or unplanned maintenance, there is apparently about 4,000 to 8,000 mW of potential generation in California which is not online for reasons that remain unexplained. Meanwhile, prices for wholesale electricity have been going through the roof, with some generators and marketers of energy in California earning record high profits. These energy companies have insisted they are operating their generators at maximum capacity and are not manipulating the market by pulling generation offline. We have read evidence to the contrary. For your reference, we have enclosed a report by the private consulting company McCullough Research Group, and a research paper by Massachusetts Institute of Technology economics professor, Mr. Paul Joskow. The Federal Energy Regulatory Commission (FERC), the federal agency responsible for ensuring that energy costs are "just and reasonable," has studied the energy crisis in the West. As you may know, while FERC concluded that energy prices in California are not "just and reasonable," based on a preliminary inquiry, they determined there is insufficient evidence of market manipulation as a contributing factor to the high prices. Given independent reports that are at odds with FERC's conclusions, we are concerned FERC has not done an adequate job in its investigation of possible market manipulation. Therefore, we request that you: Compare the methodology used by FERC with that of Professor Joskow. Determine whether or not the FERC methodology and investigation were thorough enough to determine whether generating capacity has been withheld without legitimate reason. Analyze whether California's deregulation of its electric utility market created a regulatory environment in which a small number of energy generators or marketers are more easily able to manipulate power prices by withholding generation. Thank you for investigating this matter. Due to the time critical nature of this issue, it is our hope that your office can make this investigation a high priority. Sincerely, JAY INSLEE Member of Congress PETER DEFAZIO Member of Congress
_________________________________________________________________ I N V E S T I N G B A S I C S Wednesday, December 13, 2000 benjamin.rogers@enron.com _________________________________________________________________ Sponsored By: Scottrade Scottrade: $7 Trades, 120+ offices, personal brokers, FREE REAL TIME Quotes & charts. Check out our financial services: CDs, Bonds, Mutual Funds, no setup fees on IRAs. Apply now! http://www.lnksrv.com/m.asp?i=242974 ASK THE FOOL This weekly e-mail offers answers to questions that perplex most beginning and intermediate investors and throws in an investing-related lesson, as well. Enjoy! -- Q. Tell me about this firm I've heard of, Kleiner Perkins Caufield & Byers. Does it underwrite initial public offerings (IPOs)? -- A. It's one of the top venture capital firms, based in Silicon Valley. Its partners pool their money and invest in fledgling companies, specializing in computer-related technology and life sciences firms. Venture capitalists typically enter the scene well before a company gets to the IPO stage. They pony up a lot of money to help the firm grow, usually in exchange for a large percentage of the company. They offer guidance, as well. The expectation is that once the company grows to a certain point, it will go public and the venture capitalists can cash out, making a very tidy profit. Kleiner Perkins has funded many companies, such as Amazon.com and Netscape, in their infancy. -- Q. What's a company's "payout ratio"? -- A. It's the percentage of net income the firm pays out to shareholders as a dividend. If Buzzy's Broccoli Beer (ticker: BROCB) pays $1.00 per year in dividends and earns $4.00 per share, its payout ratio is 25 percent. This shows what the company is doing with its money. If much of its earnings are being returned to shareholders, then little is being reinvested in operations. That can be OK, as sometimes reinvested earnings would return less than shareholders could get investing the payout on their own. Got some questions of your own for the Fool? Head to our Help area or post your question on the Ask a Foolish Question discussion board. http://www.fool.com/m.asp?i=242975 http://www.fool.com/m.asp?i=242976 _________________________________________________________________ INVESTING BASICS - MARKS OF GREAT COMPANIES In this space, we've discussed many aspects of evaluating companies, honing in on measures such as earnings yield, return on assets and so on. It's vital, though, to also evaluate the big picture, to make sure that the company you're looking at is a first-class operation and one you'd be proud to own in your portfolio. Here are some marks of great companies. Powerful brands. Think of names well known in the United States, or better yet, around the world. Brands like McDonald's, Gucci, Campbell Soup, and IBM fit the bill. If most people don't yet know a company's name, then it still has a lot of work to do. Significant products or services. Look for a company that's selling its customers something they really need or really want. Pharmaceutical companies, for example manufacture products that people will buy whether they're flush with funds or strapped. Firms like Ben & Jerry's and Starbucks offer consumers things they love. We often look for products that people buy over and over, like cheeseburgers and shampoo, instead of items bought only sporadically, like cars. Consistent, reliable earnings and sales growth -- and robust margins. Track how sales and earnings have increased over past years. An upward-sloping line suggests that management is planning and executing well, encountering few surprises. Stack your company's gross, operating and net profit margins up against its competitors to see which one is wringing the most value out of each dollar of sales. Lots of potential. See what the company's growth prospects are. Is it expanding abroad? Is it coming out with exciting new products or services? Are its offerings taking the country by storm? Is it trouncing its competition? A final consideration when qualifying companies for further research is how well you know the company and industry, and how much you'd enjoy keeping up with its developments. A company might have enormous potential, but if reading about it puts you to sleep, it might not be the best addition to your portfolio. _________________________________________________________________ IN THE SPOTLIGHT -- If you haven't jumped into some of our discussion boards, you're doing yourself a disservice. Here's the main gate -- give it a whirl! http://www.fool.com/m.asp?i=242977 -- Have some concerns and reservations about discussion/message boards? Let us put them to rest. http://www.fool.com/m.asp?i=242978 -- Why is it best to buy and hold stocks for the long term? Our series of articles offers some thoughts on the subject. http://www.fool.com/m.asp?i=242979 _________________________________________________________________ A NOTE FROM THE AUTHOR( I hope you're finding this product useful. The content originally appeared as part of our nationally syndicated newspaper feature (which I also prepare). Consider giving your local editor a jingle and suggesting that they think about carrying the Fool. http://www.fool.com/m.asp?i=242980 Selena Maranjian http://www.fool.com/m.asp?i=242981 _________________________________________________________________ My Portfolio: http://www.fool.com/m.asp?i=242982 My Discussion Boards: http://www.fool.com/m.asp?i=242983 My Fool: http://www.fool.com/m.asp?i=242984 Fool.com Home: http://www.fool.com/m.asp?i=242985 My E-Mail Settings: http://www.fool.com/m.asp?i=242986 Sponsored By: Scottrade Scottrade: $7 Trades, 120+ offices, personal brokers, FREE REAL TIME Quotes & charts. 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Try our discussion board: http://www.fool.com/m.asp?i=242991 ____________________________________________________ (c) Copyright 2000, The Motley Fool. All rights reserved. This material is for personal use only. Republication and redissemination, including posting to news groups, is expressly prohibited without the prior written consent of The Motley Fool. MsgId: msg-13776-2000-12-13_14-24-24-5186495_5_Plain_MessageAddress.msg-14:25:09(12-1 3-2000) X-Version: mailer-sender-master,v 1.84 X-Version: mailer-sender-daemon,v 1.84 Message-Recipient: benjamin.rogers@enron.com
_________________________________________________________________ B R E A K F A S T W I T H T H E F O O L Tuesday, November 7, 2000 benjamin.rogers@enron.com _________________________________________________________________ REGISTER TO BECOME A FOOL -- GET FREE STUFF! http://www.fool.com/m.asp?i=184232 _________________________________________________________________ Sponsored By: BUYandHOLD Hey Fool! Want to know the SECRET to long-term investing? Compounding and dollar-cost averaging! Start investing with as little as $20! Just $2.99 per order. http://www.lnksrv.com/m.asp?i=184233 "Politics is supposed to be the second-oldest profession. I have come to realize that it bears a very close resemblance to the first." -- Ronald Reagan ADOBE SWEET ADOBE The publishing giant sees higher margins ahead. Solid 2001 in store? By Rick Aristotle Munarriz When is less, more? For publishing software leader Adobe (Nasdaq: ADBE) it means growing operating profits next year by scaling back on research and development. The company announced its guidance at yesterday's 2000 Fall Financial Analyst Meeting. The logic may seem absurd in this era of perpetual obsolescence. The failure to plant seeds today means less of a harvest to reap tomorrow. But Adobe feels that it can still seize the future by trimming research expenditures from 20% to just 19% of projected sales. "Our R&D investment is larger than the annual revenues of most of our competitors, and we do think that gives us a competitive advantage," Adobe President Bruce Chizen told Fool analyst Zeke Ashton back in September. So even if the company does hold back on research, it should still remain ahead of the pack. http://www.fool.com/m.asp?i=184234 Like hue-tinkering on Adobe Photoshop, it appears that the prospects are brighter than the 20% growth analysts were projecting. The company expects revenue growth of at least 25% next year. With operating margins now set to climb from 31% to 32%, estimates are now poised to be revised about a dime above the $2.56 consensus. In the meeting -- which ran just over two hours long -- the company shared its enthusiasm over its role in the new economy. Adobe has gone from a leader in the realm of desktop publishing for print media to serving as the software backbone for online and network publishing. Its ePaper Solutions segment is expected to provide a 65% growth spurt in sales next year. That's a stark contrast to the print publishing side. There the company is looking for just a 10% hike in revenue. Adobe has always known how to touch up a picture, and this horizon seems to have a crusty glow. http://www.lnksrv.com/m.asp?i=184235 _________________________________________________________________ NEWS TO GO It's election day. Time to voice your vote. Like, what matters more, the top or the bottom line? VoiceStream Wireless (Nasdaq: VSTR) reported revenue of $562.2 million, well ahead of analyst expectations and 317% higher than last year's $134.9 million showing. Strong subscriber growth led the way. But bloated expenses found the company also producing a much wider loss than was projected. The company is in the process of being acquired by Germany's Deutsche Telekom (NYSE: DT). Knocking chips off the global building blocks, two sources abroad warned of lower chip prices earlier today. First it was Douglas Lee, an executive director at Goldman Sachs in Asia, predicting that DRAM prices will continue to fall well into next year. Then Germany's largest semiconductor maker, Infineon Technologies (NYSE: IFX), warned of weaker demand and consequently lower prices in its memory business during the current quarter. However, Infineon reported a strong close to its fiscal year and maintains a positive outlook through the next three years thanks to growth in other high-margin businesses. General Electric (NYSE: GE)? No. Not quite. But Dollar General (NYSE: DG) and Emerson Electric (NYSE: EMR) reported earnings this morning. Both companies held their ground with results that were in-line with analyst expectations. Casino gaming equipment maker International Game Technology (NYSE: IGT) has beaten the house. The company trumped the quarterly estimate of $0.63 a share by reporting earnings of $0.66 before charges. The strong hand was there for the taking. All one had to do is count cards. Two weeks ago Anchor Gaming (Nasdaq: SLOT) also topped projections on the hot demand for its video gaming machines themed to television shows such as Jeopardy! and I Dream of Jeanie. Those devices are being rolled out as a joint venture involving both companies. How popular are IGT's slots and video-gaming machines? The company topped the billion-dollar mark in revenue this year. Check out yesterday's Foolish market wrap-up with just one click. http://www.fool.com/m.asp?i=184236 _________________________________________________________________ EDITORS' PICK Check out the top five dot-com-themed games we'd like to play. http://www.fool.com/m.asp?i=184237 _______________________________________________________________ -News & Commentary http://www.fool.com/m.asp?i=184238 -Fool Community http://www.fool.com/m.asp?i=184239 -Post of the Day http://www.fool.com/m.asp?i=184240 -Latest Fribble http://www.fool.com/m.asp?i=184241 -Latest Market Numbers http://www.fool.com/m.asp?i=184242 ____________________________________________________________ My Portfolio: http://www.fool.com/m.asp?i=184243 My Discussion Boards: http://www.fool.com/m.asp?i=184244 My Fool: http://www.fool.com/m.asp?i=184245 Fool.com Home: http://www.fool.com/m.asp?i=184246 My E-Mail Settings: http://www.fool.com/m.asp?i=184247 Sponsored By: BUYandHOLD Hey Fool! Want to know the SECRET to long-term investing? Compounding and dollar-cost averaging! Start investing with as little as $20! Just $2.99 per order. http://www.lnksrv.com/m.asp?i=184248 FREE BOOK, JUST FOR FOOLS! Investor's Business Daily will send you a free copy of 24 Essential Lessons for Investment Success when you sign up for a free trial subscription of their newspaper. http://www.lnksrv.com/m.asp?i=184249 NEW! EMC THIRD-QUARTER UPDATE The company continues to see incredible growth. Find out what lies ahead with Motley Fool Research. http://www.lnksrv.com/m.asp?i=184250 FOOL DIRECT E-MAIL SERVICES Need to change your address or unsubscribe? You can also temporarily suspend mail delivery. Click here: http://www.fool.com/community/freemail/freemaillogin.asp?email=benjamin.rogers @enron.com> Have ideas about how we can improve the Fool Direct or new e-mail products you'd like to see? Try our discussion board: http://www.fool.com/m.asp?i=184251 ____________________________________________________ (c) Copyright 2000, The Motley Fool. All rights reserved. This material is for personal use only. Republication and redissemination, including posting to news groups, is expressly prohibited without the prior written consent of The Motley Fool. . MsgId: msg-18332-2000-11-07_9-00-53-3245346_2_Plain_MessageAddress.msg-09:06:06(11-07 -2000) X-Version: mailer-sender-master,v 1.84 X-Version: mailer-sender-daemon,v 1.84 Message-Recipient: benjamin.rogers@enron.com
Utilities' Demand Blocks Bailout NEGOTIATIONS HIT SNAG: PG&E, Edison want end to price freeze if they sell transmission lines to state David Lazarus, Chronicle Staff Writer Wednesday, March 21, 2001 ,2001 San Francisco Chronicle URL: http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/03/21/M N114450.DTL California's near-bankrupt utilities are demanding that higher electric rates be a part of any deal to sell the state their power lines, The Chronicle has learned. A rate increase -- perhaps of more than 50 percent, according to earlier industry estimates -- would certainly draw a firestorm of protest from consumer groups and force Gov. Gray Davis to backtrack from earlier pledges that rates would remain unchanged. Nevertheless, sources close to negotiations on the deal said Pacific Gas and Electric Co. and Southern California Edison are attempting to make higher rates a condition for agreeing to a bailout scheme in which they would sell the state their transmission systems and some land. The sources said the talks hit a new snag this week when state officials realized that fine print sought by the companies could require the Public Utilities Commission to pass along all of the utilities' costs to ratepayers. The sources said this would end a rate freeze that shields consumers from runaway wholesale electricity prices. The inclusion of potential rate increases in the talks reflects the growing complexity of a deal originally intended by Davis to stabilize the finances of PG&E and Edison so banks would resume loans to the cash-strapped utilities. The negotiations subsequently have expanded to involve a state purchase of the utilities' transmission networks and acquisition of utility-owned land, including spectacular coastal property near PG&E's Diablo Canyon nuclear power plant. Now they also have embraced further deregulation of California's dysfunctional electricity market. "Clearly, one of the terms being discussed is the regulatory environment," said Joseph Fichera, head of Saber Partners, a New York investment bank that is advising Davis in the talks. "The past situation has not worked well," he added. "The utilities want some certainty about their future." TENTATIVE DEAL WITH EDISON To date, the governor has announced a tentative agreement with Edison for the state to buy the utility's power lines for almost $3 billion. Discussions with PG&E for a similar accord have dragged on for weeks. An Edison official, asking that his name be withheld, acknowledged yesterday that an end to the rate freeze is an expected result of the power- line sale. "Once the details of the pact are complete, dominoes will fall," the official said. "One of the dominoes is the rate freeze." A PG&E spokesman declined to comment. In fact, both Edison and PG&E have been aggressively seeking an end to the rate freeze for months. The two utilities have a lawsuit pending in federal court demanding that the PUC immediately raise rates so the utilities can recover almost $13 billion in debt accrued as a result of the freeze. "They have been trying a lot of things to get the rate freeze ended in various forms," said Carl Wood, who sits on the PUC. "Adding it to the present talks is consistent with past behavior." Wall Street has taken note that the negotiations no longer appear to be making progress. Paul Patterson, an energy industry analyst at Credit Suisse First Boston, told clients on Monday that the discussions "may have lost some momentum in recent days." He did not give a reason. For his part, the governor sounded unusually cautious about the course of the talks when asked late last week if a breakthrough was imminent. SECRET STICKING POINTS "We are going to take the transmission systems and the land that's deeded, and we will work out an agreement," Davis said at an appearance in San Jose. "But there are a number of sticking points in the talks with PG&E that I'm not going to reveal." One of those sticking points apparently is an insistence that the sale of utility assets include a long-sought lifting of the rate freeze. Sources said lawyers from both PG&E and Edison had inserted the related terms into draft accords affecting each utility, and that the full impact of the additions was not realized by state officials until this week. One source said the language was just convoluted enough to slip beneath the radar screen of state negotiators. But the upshot, once the words had been parsed, was that the PUC effectively would lose control over power rates. CREDITWORTHINESS ON THE TABLE In Edison's case, the terms of the tentative deal include the governor asking the PUC "to support the creditworthiness" of the utility. "This would ensure that future investments in both utility distribution and utility generation plants are provided fair returns of and on capital, consistent with current authorized returns and capital structure provisions," it says. Sources said the provision could be interpreted as a guarantee from the state that Edison would be permitted to recoup all outstanding costs from ratepayers. "There may be some assumptions about this language that the rate freeze ends if it is adopted," the Edison official said, adding that he saw no reason to disagree with such assumptions. But Fichera, Davis' adviser in the talks, insisted that nothing is set in stone, and that the negotiations are proceeding without a hitch. "This is a very complex transaction," he said. "God and the devil are in the details." E-mail David Lazarus at dlazarus@sfchronicle.com. ,2001 San Francisco Chronicle ? Page?A - 1
Does this name change mean anything to us yet? Our transactions are with the Chase Manhattan Bank, not Chase Manhattan Corp. (which I presume is the parent of the Bank) Will our ISDA agreement be updated or changed? Should we continue to do business as usual for the time being and notify you if the confirmation format changes at all or references a different agreement? ---------------------- Forwarded by Laurel Adams/HOU/ECT on 04/20/2001 08:00 AM --------------------------- Cheryl Johnson@ENRON 04/19/2001 09:11 PM To: Laurel Adams/HOU/ECT@ECT, Lane Alexander/HOU/EES@EES, Amelia Alland/HOU/ECT@ECT, Lauri A Allen/HOU/ECT@ECT, Bridgette Anderson/Corp/Enron@ENRON, Arfan Aziz/LON/ECT@ECT, Cyndie Balfour-Flanagan/Corp/Enron@ENRON, Edward D Baughman/Enron@EnronXGate, Bryce Baxter/HOU/ECT@ECT, Kimberlee A Bennick/HOU/ECT@ECT, Kathryn Bussell/Enron@EnronXGate, Lisa Berg Carver/HOU/ECT@ECT, Anne Bike/Corp/Enron@Enron, Georgia Blanchard/HOU/ECT@ECT, Jennifer Blay/HOU/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, Linda S Bryan/HOU/ECT@ECT, Lesli Campbell/Enron@EnronXGate, Anthony Campos/HOU/ECT@ECT, Sylvia A Campos/HOU/ECT@ECT, Cary M Carrabine/Corp/Enron@Enron@ECT, Kelly Carrington/ENRON@enronXgate, Clem Cernosek/HOU/ECT@ECT, Pat Clynes/Corp/Enron@ENRON, Boyd Coble/HOU/EES@EES, Marilyn Colbert/HOU/ECT@ECT, Brad Coleman/Enron@EnronXGate, Donna Consemiu/HOU/ECT@ECT, Robert Cotten/HOU/ECT@ECT, Mike Croucher/Enron@EnronXGate, Lisa Cousino/Enron Communications@Enron Communications, Romeo D'Souza/Enron@EnronXGate, Shonnie Daniel/HOU/ECT@ECT, Cheryl Dawes/CAL/ECT@ECT, Sherry Dawson/NA/Enron@Enron, Rhonda L Denton/HOU/ECT@ECT, Russell Diamond/Enron@EnronXGate, Stacy E Dickson/HOU/ECT@ECT, Ralph Douglas/HOU/EES@EES, Cheryl Dudley/HOU/ECT@ECT, Michael Eiben/HOU/ECT@ECT, Susan Elledge/NA/Enron@Enron, Faye Ellis/HOU/ECT@ECT, Diane Ellstrom/Enron@EnronXGate, Veronica Espinoza/Enron@EnronXGate, Enron Europe Global Contracts and Facilities, Enron Europe Global CounterParty/LON/ECT@ECT, Daren J Farmer/Enron@EnronXGate, Genia FitzGerald/HOU/ECT@ECT, Irene Flynn/HOU/ECT@ECT, Shawna Flynn/HOU/ECT@ECT, Hoong P Foon/Enron@EnronXGate, Randall L Gay/HOU/ECT@ECT, Scotty Gilbert/TOR/ECT@ECT, Lisa Gillette/HOU/ECT@ECT, Carolyn Gilley/Enron@EnronXGate, Sharon Gonzales/NA/Enron@ENRON, Winston Goodbody/HOU/ECT@ECT, Amita Gosalia/LON/ECT@ECT, Melissa Graves/Enron@EnronXGate, Walter Guidroz/Enron@EnronXGate, Andrea R Guillen/HOU/ECT@ECT, Sanjeev Gupta/Enron@EnronXGate, Bob M Hall/Enron@EnronXGate, D Todd Hall/Enron@EnronXGate, David Hardy/LON/ECT@ECT, Bill D Hare/HOU/ECT@ect, Kenneth M Harmon/Enron@EnronXGate, Cathy L Harris/HOU/ECT@ECT, Peggy Hedstrom/CAL/ECT@ECT, Elizabeth L Hernandez/HOU/ECT@ECT, Brenda F Herod/Enron@EnronXGate, Marlene Hilliard/HOU/ECT@ect, Liz Hillman/Corp/Enron@Enron, Nathan L Hlavaty/HOU/ECT@ECT, Carla Hoffman/PDX/ECT@ECT, Jim Homco/HOU/ECT@ECT, Cindy Horn/LON/ECT@ECT, Larry Joe Hunter/HOU/ECT@ECT, Tammie Huthmacher/NA/Enron@Enron, Rahil Jafry/Enron@EnronXGate, Tana Jones/HOU/ECT@ECT, Katherine L Kelly/HOU/ECT@ECT, Nanette Kettler/Enron@EnronXGate, Troy Klussmann/Enron@EnronXGate, Victor Lamadrid/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Gary W Lamphier/HOU/ECT@ECT, Cregg Lancaster/HOU/EES@EES, Monica Lande/LON/ECT@ECT, Shemeika S Landry/Enron@EnronXGate, Jenny Latham/HOU/ECT@ECT, Michelle Laurant/NA/Enron@Enron, Elsie Lew/HOU/ECT@ECT, Andrew H Lewis/Enron@EnronXGate, Jim Little/Enron@EnronXGate, Kori Loibl/HOU/ECT@ECT, Kelly Lombardi/NA/Enron@Enron, Scott F Lytle/Enron@EnronXGate, Matilda Machado/CAL/ECT@ECT, Hillary Mack/Corp/Enron@Enron, Chris Mallory/PDX/ECT@ECT, Richard C McKeel/CAL/ECT@ECT, Errol McLaughlin/Corp/Enron@ENRON, Nidia Mendoza/Enron@EnronXGate, Julie Meyers/HOU/ECT@ECT, Richard A Miley/Enron@EnronXGate, Bruce Mills/Corp/Enron@ENRON, Scott Mills/HOU/EES@EES, Patrice L Mims/Enron@EnronXGate, Glenda D Mitchell/Enron@EnronXGate, Jason Moore/HOU/ECT@ECT, Tom E Moore/Enron@EnronXGate, Jeremy Morris/PDX/ECT@ECT, Michael W Morris/HOU/ECT@ECT, Dale Newberger/ENRON@enronXgate, Tracy Ngo/PDX/ECT@ECT, Debbie Nicholls/LON/ECT@ECT, John L Nowlan/HOU/ECT@ECT, Jennifer Oliver/EU/Enron@Enron, B Scott Palmer/HOU/ECT@ECT, Stephanie Panus/NA/Enron@Enron, Anita K Patton/HOU/ECT@ECT, Regina Perkins/Enron Communications@Enron Communications, Debra Perlingiere/HOU/ECT@ECT, Richard Pinion/HOU/ECT@ECT, Phillip Platter/HOU/ECT@ECT, Sylvia S Pollan/Enron@EnronXGate, John D Powell/Enron@EnronXGate, Product Control - Houston, Joan Quick/Enron@EnronXGate, Leslie Reeves/HOU/ECT@ECT, Donald P Reinhardt/Enron@EnronXGate, Brant Reves/Enron@EnronXGate, Stacey Richardson/HOU/ECT@ECT, Jeff Richter/HOU/ECT@ECT, Oscar Rivera/Enron@EnronXGate, Suzy Robey/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Carlos J Rodriguez/HOU/ECT@ECT, Sam Round/Enron@EnronXGate, Marilyn M Schoppe/Enron@EnronXGate, Samuel Schott/HOU/ECT@ECT, Brad Schneider/Corp/Enron@Enron, James Scribner/Corp/Enron@Enron, Dianne Seib/CAL/ECT@ECT, Lynn E Shivers/LON/ECT@ECT, Michele Small/LON/ECT@ECT, Mary M Smith/HOU/ECT@ECT, Susan Smith/Enron@EnronXGate, Jefferson D Sorenson/Enron@EnronXGate, Carrie Southard/LON/ECT@ECT, Willie Stewart/HOU/ECT@ECT, Geoff Storey/Enron@EnronXGate, Colleen Sullivan/HOU/ECT@ECT, Connie Sutton/Enron@EnronXGate, John Swinney/Enron@EnronXGate, Kate Symes/PDX/ECT@ECT, Vance L Taylor/Enron@EnronXGate, Spencer Teel/HOU/EES@EES, Edward Terry/HOU/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Veronica Thompson/GPGFIN/Enron@ENRON, Mark D Thorne/Enron@EnronXGate, Philippe Travis/LON/ECT@ECT, Susan D Trevino/HOU/ECT@ECT, Lisa Valderrama/HOU/ECT@ECT, Laura Vargas/Corp/Enron@ENRON, Claire Viejou/LON/ECT@ECT, Elsa Villarreal/HOU/ECT@ECT, Ellen Wallumrod/NA/Enron@ENRON, Steve Watson/HOU/EES@EES, Colette Weinreich/HOU/EES@EES, George Weissman/HOU/ECT@ECT, Stacey W White/HOU/ECT@ECT, Karin Williams/HOU/EES@EES, Sony Wilson/Enron@EnronXGate, O'Neal D Winfree/HOU/ECT@ECT, Christa Winfrey/Enron@EnronXGate, Jeremy Wong/Enron@EnronXGate, Rita Wynne/HOU/ECT@ECT cc: Subject: Name Overlay 04/19/01 The Chase Manhattan Corporation (Survivor) merged with J. P. Morgan & Co. Incorporated and changed its name concurrently to J.P. Morgan Chase & Co. See the attached for details.
Notice No. 00-340 October 9, 2000 TO: All NYMEX Members/Member Firms All NYMEX Clearing Members All NYMEX Floor Traders All NYMEX Operations Managers FROM: George Henderson, Vice President RE: Options Expiration Operational Procedures for the Trading Floor and Clearing Members ________________________________________________________________ The expiration date for the November 2000 options contract for Platinum (POX0) is Friday, October 13, 2000. GENERAL OPERATIONAL PROCEDURES All Clearing Members and Qualified Floor Traders that carried an options position as of the close of business day prior to the expiration day, or engaged in trading activity on Expiration Day in the expiring options contract will be required to have a knowledgeable, duly authorized representative present at their normal work station promptly at 5:30 p.m. until released by the Exchange staff as specified below. All adjustments and/or corrections, must be accompanied by relevant supporting documentation prior to being incorporated into expiration processing, in essence making the expiration processing an extension of the afternoon trade resolution procedures. All input to the NYMEX Clearing Department will conclude no later than 30 minutes after floor representatives are released. Exchange Clearing (299-2110), Floor Trade Correction (299-2068 and 299-2169) personnel, as well as a representative of the Floor Committee will be available to assist with the processing of notices of Exercise and Abandonment, position transfers, trade corrections and other questions or problems you may have. CLEARING DEPARTMENT OPERATIONAL PROCEDURES The Option Expiration process is a screen based process for which all information is provided on the screens on C21 terminals. No Option Expiration Reports will be provided. The following screens will assist you through the Option Expiration process: MEMBER TRADE INQUIRY Contains real-time top day trade information, trade information for the previous 4 business days and trades adjusted for the previous 4 business days by adjustment date. SINGLE POSITION MAINTENANCE Contains a real-time snapshot for each option series from the start of day position to the projected end of day position. REVIEW ACCEPT REJECT TRANSFERS Contains all trade and position transfers "TO" your firm and the status of each transfer. REVIEW SUBMITTED TRANSFERS Contains all trade and position transfer "FROM" your firm and the status of each transfer. EXERCISE NOTICE SUBMISSION Contains your available long position and an input field to enter the number of long positions you wish to exercise. DO NOT EXERCISE SUBMISSION Contains your available long position and an input field to enter the number of long positions you wish to abandon. POSITION CHANGE SUBMISSION PCS may be submitted either by manual input or by electronic transmission. Any PCS input on a Clearing 21 terminal will be the input processed by the system. This input may be made at any time prior to 7:10 p.m. Any PCS input via transmission for that contract series will be disregarded. ALL POSITIONS ARE DEEMED FINAL Upon completion of all PCS input, all positions will be deemed final. EXERCISE/ASSIGNMENT INFORMATION Will be available to you on the Single Position Maintenance window by contract series or the Assignment List window which contains all your Assignments on one window. You will be notified of its availability by C21 E-Mail and by Fast Facts. This should occur within 1 hour of the last PCS input. All Clearing Members are required to have an authorized representative(s) at their C21 workstations in preparation for any communication during the expiration process. FAST FACTS Clearing Members should call the Fast Facts information service 301-4871, access code 700 for event messages advising Members of the event status. E-MAIL Clearing Members should read their C21 E-Mail messages immediately to be aware of event status. The standard event Fast Facts and/or E-Mail messages and the sequence in which they will be announced are: Standard Event Message: Announce Out-of-the Money Exercise and In-the-Money Do Not Exercise Submissions Approximate Time of Message Availability: 5:45 PM Usual Event Time: 5:45 PM Announced via Fast Facts Standard Event Message: Announce Final Input to C21 Cutoff Time Approximate Time of Message Availability: 6:55 PM Usual Event Time: 7:10 PM Announced via e-mail Standard Event Message: All positions are deemed final Approximate Time of Message Availability: 7:10 PM Usual Event Time: 7:10 PM Announced via Fast Facts Standard Event Message: Announce Exercise/Assignment Information Available on the Single Position Maintenance Windows Approximate Time of Message Availability: 8:25 PM Usual Event Time: 8:30 PM Announced via Fast Facts and e-mail Standard Event Message: All Report Distribution is completed Approximate Time of Message Availability: 11:00 PM Usual Event Time: 11:00 PM Announced via Fast Facts The times appearing in the Usual Event Time column are based on normal operational conditions and could vary. NYMEX EXPIRATION DAY PROCESSING OVERVIEW OF MEMBER REQUIREMENTS Time: 5:30 PM Activity: Exercise Notice Submission Event: Input to C21 Cutoff Time Reference Number: 1 Time: 5:30 PM Activity: Do Not Exercise Submission Event: Input to C21 Cutoff Time Reference Number: 2 Time: 5:45 PM Activity: Announce Out-of-the-Money Exercise and In-the-Money Do Not Exercise Submissions Event: Fast Facts Notice Reference Number: 3 Time: 6:55 PM Activity: Announce Final Input to C21 Cutoff Time Event: C21 E-mail Reference Number: 4 Time: 7:10 PM Activity: Final Input to C21 Cutoff Time Reference Number: 5 Time: 7:10 PM Activity: All Positions are Deemed Final Event: Fast Facts Notice Reference Number: 6 Time: 8:25 PM Activity: Announce Exercise/Assignment Information Available on the Single Position Maintenance Windows Event: Fast Facts Notice and C21 E-mail Reference Number: 7 If you have any questions concerning these procedures, please contact Charles V. Bebel at 299-2130, Angel Rivera at 299-2150 or Anthony Di Benedetto at 299-2152 prior to the expiration date. __________________________________________________ Please click on the link below to indicate you have received this email. "http://208.206.41.61/email/email_log.cfm?useremail=sara.shackleton@enron.com& refdoc=(00-340)" Note: If you click on the above line and nothing happens, please copy the text between the quotes, open your internet browser, paste it into the web site address and press Return.
----- Forwarded by Jeff Dasovich/NA/Enron on 03/13/2001 05:46 PM ----- Jean Munoz <jmunoz@mcnallytemple.com> 03/13/2001 05:47 PM To: Katie Kaplan <kaplan@iepa.com>, "'Andy Brown (E-mail)'" <ABB@eslawfirm.com>, "'B Brown Andy (E-mail)'" <andybrwn@earthlink.net>, "'Baker Carolyn (E-mail)'" <cabaker@duke-energy.com>, "'Bob Escalante (E-mail)'" <rescalante@riobravo-gm.com>, "'Bob Weisenmiller (E-mail)'" <rbw@mrwassoc.com>, "'Curtis Kebler (E-mail)'" <curtis_l_kebler@reliantenergy.com>, "'Douglas Kerner (E-mail)'" <DKK@eslawfirm.com>, "'Greg Blue (E-mail)'" <gtbl@dynegy.com>, "'Jan Smutny-Jones (E-mail)'" <smutny@iepa.com>, "'Jeff Dasovich (E-mail)'" <Jeff.Dasovich@enron.com>, "'Joe Ronan (E-mail)'" <joer@calpine.com>, "'John Larrea (E-mail)'" <john.g.larrea@williams.com>, "'John Stout (E-mail)'" <John_H_Stout@reliantenergy.com>, "'Julee Malinowski-Ball (E-mail)'" <jmball@ns.net>, "'Kassandra Gough (E-mail)'" <kgough@calpine.com>, "'kent Palmerton (E-mail)'" <kent.palmerton@williams.com>, "'Kristin Vellandi (E-mail)'" <kvellandi@pstrategies.com>, "'Lynn Lednicky (E-mail)'" <lale@dynegy.com>, "'Marty Wilson (E-mail)'" <mwilson@pstrategies.com>, "'McNally Ray (E-mail)'" <rmcnally@mcnallytemple.com>, "''Nam Nguyen' (E-mail)'" <nam.nguyen@powersrc.com>, "'Norton Kelli (E-mail)'" <knorton@mcnallytemple.com>, "'Paula Hall-Collins (E-mail)'" <paula.hall-collins@williams.com>, "'Pigott Jack (E-mail)'" <jackp@calpine.com>, "'Richard Hyde (E-mail)'" <rwhyde@duke-energy.com>, "'Rob Lamkin (E-mail)'" <rllamkin@seiworldwide.com>, "'Roger Pelote (E-mail)'" <roger.pelote@williams.com>, "'Stephanie-Newell (E-mail)'" <stephanie-newell@reliantenergy.com>, "'Sue Mara (E-mail)'" <smara@enron.com>, "'Theo Pahos (E-mail)'" <tpahos@ppallc.com>, "'Tom Ross (E-mail)'" <tross@mcnallytemple.com>, "Carol H Hudson (E-mail)" <Chudson@iepa.com>, steven kelly <steven@iepa.com>, "'Anne Kelly (E-mail)'" <kelly@hnks.com>, "'Chuck Cole (E-mail)'" <ccole@advocation-inc.com>, "'Delany Hunter (E-mail)'" <dhunter@smithandkempton.com>, "'DJ Smith (E-mail)'" <djsmith@smithandkempton.com>, "'Hedy Govenar (E-mail)'" <hgovenar@acom2.com>, <mmoretti@mccabeandcompany.net>, "'Maureen OHaren (E-mail)'" <Oharen@hmot.com>, "'Mike Monagan (E-mail)'" <mrmonagan@aol.com>, "'Phil Isenberg (E-mail)'" <isenberg@hmot.com>, "'Robert Ross (E-mail)'" <robbiz@cwo.com>, "'Ron Tom (E-mail)'" <Rtom@govadv.com>, "'Scott Govenar (E-mail)'" <sgovenar@govadv.com>, "'Susan Mccabe (E-mail)'" <sfmccabe@mindspring.com>, <rtemple@mcnallytemple.com>, <megan.beiser@edelman.com>, <tracy.fairchild@edelman.com>, <deborah.fiorito@dynegy.com>, <tcwillia@duke-energy.com> cc: Subject: CA Secretary of State Bill Jones Denounces "Free-Wheeling Energy Spending Spree" JONES DENOUNCES LACK OF OVERSIGHT AND ACCOUNTABILITY OVER MONTHS OF FREE-WHEELING ENERGY SPENDING SPREE CALLS FOR STATE CONTROLLER TO AUDIT ALL ENERGY-RELATED EXPENSES AND CONTRACTS; URGES GOVERNOR TO BEGIN MONTHLY BRIEFINGS WITH LEGISLATIVE BI-PARTISAN LEADERSHIP ON PROGRESS OF POWER PLANT CONSTRUCTION AND DETAILS OF LONG-TERM CONTRACTS LOS ANGELES - Denouncing the fact that there is currently no oversight or accountability for the billions of taxpayers' dollars that are being spent by the Governor and his administration, Secretary of State Bill Jones totals called on State Controller Kathleen Connell to begin an immediate full and complete audit of all energy-related financial transactions. As chief financial of officer for the state, the controller has the sole responsibility to "provide sound fiscal control over both receipts and disbursements of public funds and to determine legality and accuracy of every claim against the state." "There is no oversight and no accountability to ensure that the taxpayers' money is being spent wisely," Jones sad. "The enormous outlays of money to purchase energy on a daily basis as well as these binding long-terrn contracts will have a tremendous fiscal impact on the state for years to come - I believe essentially, mortgaging our future for our children and grandchildren." Additionally, Jones called on Governor Davis to immediately meet with legislative bi-partisan leaders to brief them fully as to the terms and costs of all contracts and purchases on the spot market just as the President's team meets with congressional leaders to discuss issues of national security. Jones also strongly urged the Governor to begun monthly briefings immediately wth legislative leaders to provide on-going updates on the progress of new power plant construction and an up-to-date report of California's power supplies to ensure adequate resources for the upcoming summer months "The Governor believes that the solution to our energy crisis lies in the state getting into the power business - I do not. As a result, Davis has created a de-facto state Power Authority that's spending cash at an alarming rate, some $45 million a day; $1.5 billion a month," said Jones. "And he's just signed the state up for some $43 billion in long-tern contracts for which we don't know the terms, length or total energy supply secured." Jones noted that when the utility companies were regulate the Public Utilities Commission (PUC) had the responsibility to look over their shoulder and ensure that the ratepayers were protected and fairly treated. Yet all the governmental agencies that should be looking into the energy spending spree are now controlled or appointed by the govemor, including the PUC, the Little Hoover Commission, the Electricity Oversight Board, the Department of Finance, the Resources Agency, the Department of Water Resources, the Energy Commissions the Independent Systems Operator and the now-defunct Power Exchange. According to a recent Wall Street Journal article (3/08/01), David Mills, trading floor manager of the Bonneville Power A.dndnistation questioned Califomia's purchases on the spot market, saying that the water agency [California Departnent of Water Resources] has at times offered to pay $50 to $100 per megawatt hour more than the available market price." Mills added that power buyers for the state "agree to prices that make you wonder ? you?d at least think they?d check to see what the prevailing price is before throwing out their offer." "As President Bush has said so often, it's not the government's money, it's the people's money" Jones sad. "The people of California deserve to know what the terms of this high-stakes energy game are since it's being played with taxpayers' money." Jones criticized the governor?s repeated refusal to fulfill numerous Public Records Act requests from Assemblyman Tony Strickland (R-Thousand Oaks), several news media and other organizations, calling his denial for information based on a government code provision regarding protection of the "public interest " an assault on the public's common sense. "I believe that the real @public interest' lies in a full accounting to the public of how the Governor has spent their money - and what kind of a deal we're actually getting," Jones concluded. # # #
FYI. Appears that the Davis administration has thrown down the gauntlet, looking to position itself in a way that will allow it to blame the FERC/Bush administration for California's electricity crisis, unless FERC agrees to the ISO's price cap plan. Best, Jeff ----- Forwarded by Jeff Dasovich/NA/Enron on 03/08/2001 10:41 AM ----- "Katie Kaplan" <kaplan@iepa.com> 03/08/2001 10:44 AM To: "'Alex Sugaoka (E-mail)'" <alex.sugaoka@uaecorp.com>, "'Bill Carlson (E-mail)'" <william_carlson@wastemanagement.com>, "'Bill Woods (E-mail)'" <billw@calpine.com>, "'Bob Ellery (E-mail)'" <bellery@spi-ind.com>, "'Bob Escalante (E-mail)'" <rescalante@riobravo-gm.com>, "'Bob Gates (E-mail)'" <bob.gates@enron.com>, "'Carolyn A Baker (E-mail)'" <cabaker@duke-energy.com>, "'Cody Carter (E-mail)'" <cody.carter@williams.com>, "'Curt Hatton (E-mail)'" <Curt.Hatton@gen.pge.com>, "'Curtis Kebler (E-mail)'" <curtis_l_kebler@reliantenergy.com>, "'David Parquet'" <david.parquet@enron.com>, "'Dean Gosselin (E-mail)'" <dean_gosselin@fpl.com>, "'Doug Fernley (E-mail)'" <fernley.doug@epenergy.com>, "'Douglas Kerner (E-mail)'" <dkk@eslawfirm.com>, "'Duane Nelsen (E-mail)'" <dnelsen@gwfpower.com>, "'Ed Tomeo (E-mail)'" <ed.tomeo@uaecorp.com>, "'Eileen Koch (E-mail)'" <eileenk@calpine.com>, "'Eric Eisenman (E-mail)'" <eric.eisenman@gen.pge.com>, "'Frank DeRosa (E-mail)'" <frank.derosa@gen.pge.com>, "Frazier Blaylock (E-mail)" <frazier_blaylock@ogden-energy.com>, "'Greg Blue (E-mail)'" <gtbl@dynegy.com>, "'Hap Boyd (E-mail)'" <Hap_Boyd@enron.com>, "'Hawks Jack (E-mail)'" <jack.hawks@gen.pge.com>, "'Jack Pigott (E-mail)'" <jackp@calpine.com>, "'Jim Willey (E-mail)'" <elliottsa@earthlink.net>, "'Joe Greco (E-mail)'" <jgreco@caithnessenergy.com>, "'Joe Ronan (E-mail)'" <joer@calpine.com>, "'John Stout (E-mail)'" <john_h_stout@reliantenergy.com>, "'Jonathan Weisgall (E-mail)'" <jweisgall@aol.com>, "'Kate Castillo (E-mail)'" <CCastillo@riobravo-gm.com>, "'Kelly Lloyd (E-mail)'" <kellyl@enxco.com>, "'Ken Hoffman (E-mail)'" <khoffman@caithnessenergy.com>, "'Kent Fickett (E-mail)'" <kfickett@usgen.com>, "'Kent Palmerton'" <kent.palmerton@williams.com>, "'Lynn Lednicky (E-mail)'" <lynn.a.lednicky@dynegy.com>, "'Marty McFadden (E-mail)'" <marty_mcfadden@ogden-energy.com>, "'Paula Soos'" <paula_soos@ogden-energy.com>, "'Randy Hickok (E-mail)'" <rjhickok@duke-energy.com>, "Rick S. Koebbe (E-mail)" <rskoebbe@powerworksinc.com>, "'Rob Lamkin (E-mail)'" <rllamkin@seiworldwide.com>, "'Roger Pelote (E-mail)'" <roger.pelote@williams.com>, "'Ross Ain (E-mail)'" <ain@worldnet.att.net>, "'Stephanie Newell (E-mail)'" <stephanie-newell@reliantenergy.com>, "'Steve Iliff'" <siliff@riobravo-gm.com>, "'Steve Ponder (E-mail)'" <steve_ponder@fpl.com>, "'Susan J Mara (E-mail)'" <smara@enron.com>, "'Tony Wetzel (E-mail)'" <twetzel@thermoecotek.com>, "'William Hall (E-mail)'" <wfhall2@duke-energy.com> cc: "'Andy Brown (E-mail)'" <ABB@eslawfirm.com>, "'B Brown Andy (E-mail)'" <andybrwn@earthlink.net>, "'Bob Weisenmiller (E-mail)'" <rbw@mrwassoc.com>, "'Jan Smutny-Jones (E-mail)'" <smutny@iepa.com>, "'Jean Munoz (E-mail)'" <jmunoz@mcnallytemple.com>, "'Jeff Dasovich (E-mail)'" <Jeff.Dasovich@enron.com>, "'John Larrea (E-mail)'" <john.g.larrea@williams.com>, "'Julee Malinowski-Ball (E-mail)'" <jmball@ns.net>, "'Kassandra Gough (E-mail)'" <kgough@calpine.com>, "'Katie Kaplan (E-mail)'" <kaplan@iepa.com>, "'Kristin Vellandi (E-mail)'" <kvellandi@pstrategies.com>, "'Lynn Lednicky (E-mail)'" <lale@dynegy.com>, "Marie Moretti (E-mail 2)" <mmoretti@mccabeandcompany.net>, "'Marty Wilson (E-mail)'" <mwilson@pstrategies.com>, "'McNally Ray (E-mail)'" <rmcnally@mcnallytemple.com>, "''Nam Nguyen' (E-mail)'" <nam.nguyen@powersrc.com>, "'Norton Kelli (E-mail)'" <knorton@mcnallytemple.com>, "'Paula Hall-Collins (E-mail)'" <paula.hall-collins@williams.com>, "'Richard Hyde (E-mail)'" <rwhyde@duke-energy.com>, "'Theo Pahos (E-mail)'" <tpahos@ppallc.com>, "'Tom Ross (E-mail)'" <tross@mcnallytemple.com> Subject: FW: CAISO Notice - Draft Market Stabilization Plan Greetings: Late last night the ISO released a Market Stabilization plan that would essentially impose cost based pricing control caps and apply a strict California First Policy. Here's ISO's 3-page sketch to impose cost-based pricing intended to control costs on consumers on very short order. Unit-specific cost-based bid caps will apply to ISO markets. ISO will have dispatch control over all CA generation. Capital costs and return appear to be excluded from the bid caps. ISO will pick of the day-ahead and day-of energy markets lot to the demise of CalPX, thus ending the "market separation." There appears to be language that intimates direct unit dispatch, but the document is very thin on this. ISO proposes payments based either on the "as-bid" up to unit bid cap, or apparently a uniform market-clearing price based on marginal units cap. Out of state resources are paid California capped rates. Settlement will be on numbers other than those posted (so much for transparency). There's looking to procure AS based on optimization, although this is not spelled out well (it appears that self-provision is gummed up completely). To prevent "MW Laundering" CA will required in-area generation to make all capacity available whenever Stage 1 or higher emergency (i.e., reserves below 7%). This California First! rule means the generation must be scheduled against CA loads or bid into day-ahead market. If you don't bid your bid cap is applied. There will be a capacity element similar to RMR. This change will require FERC buy-in, which obviously will be litigation-central, and its likely to create a cascade of similar requirements from other states ... Thanks Andy for the quick summary! IEP will monitor the Friday call and review all documents to let people know what is happening. Katie Kaplan Manager of State Policy Affairs Independent Energy Producers Association (916) 448-9499 -----Original Message----- From: Woertz, Byron [mailto:BWoertz@caiso.com] Sent: Wednesday, March 07, 2001 6:40 PM To: ISO Market Participants Subject: CAISO Notice - Draft Market Stabilization Plan ISO Market Participants: Attached is the ISO's draft market stabilization plan. This document will be the basis of our conference call on Friday, March 9th at 10:00. <<Market Stabilization Draft 010307.doc>> Byron B. Woertz, Jr. Director, Client Relations (916) 608-7066 - Market Stabilization Draft 010307.doc
------------------------------------------------------------------------------ ------------------------ W E E K E N D S Y S T E M S A V A I L A B I L I T Y F O R May 4, 2001 5:00pm through May 7, 2001 12:00am ------------------------------------------------------------------------------ ------------------------ SCHEDULED SYSTEM OUTAGES: ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages. AZURIX: No Scheduled Outages. EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages. EDI SERVER: No Scheduled Outages. ENRON CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages ENRON NORTH AMERICAN LANS: Impact: ENS Time: Fri 5/4/2001 at 9:00:00 PM CT thru Fri 5/4/2001 at 10:00:00 PM CT Fri 5/4/2001 at 7:00:00 PM PT thru Fri 5/4/2001 at 8:00:00 PM PT Sat 5/5/2001 at 3:00:00 AM London thru Sat 5/5/2001 at 4:00:00 AM London Outage: Consolidation Of Networks Environments Impacted: ENA Purpose: Consolidating Network Equipment. Moving networks 172.16.48.20, 172.16.136.20, 172.16.51.20, and 172.16.194.20 from 3460 to 3405. Backout: Contact(s): George Nguyen 713-853-0691 Impact: CORP Time: Sat 5/5/2001 at 1:00:00 PM CT thru Sat 5/5/2001 at 7:15:00 PM CT Sat 5/5/2001 at 11:00:00 AM PT thru Sat 5/5/2001 at 5:15:00 PM PT Sat 5/5/2001 at 7:00:00 PM London thru Sun 5/6/2001 at 1:15:00 AM London Outage: Migrating EES VLANs from EB3405-cx11 and EB3405-cx12 to EB3405-cx13 and EB3405-cx14 Environments Impacted: EES Purpose: Off-load CPU usage onto current EB3405-CX13 and EB3405-CX14; increase throughput and redundancy. Backout: Remove EB3405-CX13 and EB3405-CX14. Replace original access-links connecting HOUCX1 and HOUCX2 back to EB3405-CX11 and EB3405-CX12. Contact(s): Michael Huang 713-875-2478 877-692-2751 Impact: ENS Time: Fri 5/4/2001 at 10:30:00 PM CT thru Sat 5/5/2001 at 12:00:00 AM CT Fri 5/4/2001 at 8:30:00 PM PT thru Fri 5/4/2001 at 10:00:00 PM PT Sat 5/5/2001 at 4:30:00 AM London thru Sat 5/5/2001 at 6:00:00 AM London Outage: Migrating Networks Off Cisco 3 and Cisco 4 Environments Impacted: ENA Purpose: Migration of Networks Off Legacy Cisco Boxes Backout: Contact(s): George Nguyen 713-853-0691 FIELD SERVICES: No Scheduled Outages. INTERNET: No Scheduled Outages. MESSAGING: Impact: Corp Notes Time: Fri 5/4/2001 at 9:00:00 PM CT thru Sat 5/5/2001 at 1:00:00 AM CT Fri 5/4/2001 at 7:00:00 PM PT thru Fri 5/4/2001 at 11:00:00 PM PT Sat 5/5/2001 at 3:00:00 AM London thru Sat 5/5/2001 at 7:00:00 AM London Outage: cNotes Server Reboots Environments Impacted: All users on any of the mailservers listed below Purpose: Scheduled @ 2 week interval Backout: Make sure server comes up. Contact(s): Trey Rhodes (713) 345-7792 Impact: EI Time: Fri 5/4/2001 at 9:00:00 PM CT thru Sat 5/5/2001 at 1:00:00 AM CT Fri 5/4/2001 at 7:00:00 PM PT thru Fri 5/4/2001 at 11:00:00 PM PT Sat 5/5/2001 at 3:00:00 AM London thru Sat 5/5/2001 at 7:00:00 AM London Outage: EI Notes Server Maintenance Environments Impacted: EI Local/Domestic/Foreign Sites Purpose: Scheduled @ 2 week interval Backout: N/A Contact(s): David Ricafrente 713-646-7741 MARKET DATA: No Scheduled Outages. NT: No Scheduled Outages. OS/2: No Scheduled Outages. OTHER SYSTEMS: Impact: Corp, OTS, ETS DATE: MAY 15, 2001/2/2001 at 5:30:00 PM Outage: Migrate DSS Server to GTHOU-APPSQ03P Environments Impacted: DSS users will not be able to access the old server (ENEDS01_ADAPT)after this date Purpose: The existing server is outdated, migrating to SQL 2000 provides increased functionality and conforms to database platform requirements. Backout: Contact(s): Mary Vollmer 713-853-3381 Joe Hellsten 713-853-7346 713-545-4164 Impact: EBS Time: Fri 5/4/2001 at 8:00:00 PM CT thru Fri 5/4/2001 at 10:00:00 PM CT Fri 5/4/2001 at 6:00:00 PM PT thru Fri 5/4/2001 at 8:00:00 PM PT Sat 5/5/2001 at 2:00:00 AM London thru Sat 5/5/2001 at 4:00:00 AM London Outage: EIGRP Integration - EBS and ENW Environments Impacted: All Purpose: The EBS network is being integrated into the ENW network. As part of the integration, we will need to bring up EIGRP process 5 on the EBS networking devices. This is the first step in the routing integration. Since ENW is already static routing 10.0.0.0/8 to EBS and EBS is static routing 172.16.0.0/12 and 192.168.0.0/16 to ENW, the impact should be nil. Backout: Remove eigrp process 5 from iah-ecn44-rtr3.enron.net Contact(s): Dennis McGough 713-345-3143 Scott Shishido 713-853-9780 Impact: CORP Time: Sat 5/5/2001 at 12:00:00 AM CT thru Sat 5/5/2001 at 1:00:00 AM CT Fri 5/4/2001 at 10:00:00 PM PT thru Fri 5/5/2001 at 11:00:00 PM PT Sat 5/5/2001 at 6:00:00 AM London thru Sat 5/5/2001 at 7:00:00 AM London Outage: Elvis webserver maintenance. Environments Impacted: Internet Web pages. Purpose: Physically stabilize the server in the rack. Backout: Leave server on shelf unracked reboot the server Contact(s): Malcolm Wells 713-345-3716 Impact: CORP Time: Fri 5/4/2001 at 6:00:00 PM CT thru Fri 5/4/2001 at 8:00:00 PM CT Fri 5/4/2001 at 4:00:00 PM PT thru Fri 5/4/2001 at 6:00:00 PM PT Sat 5/5/2001 at 12:00:00 AM London thru Sat 5/5/2001 at 2:00:00 AM London Outage: ClearCase Patch Environments Impacted: Corp Purpose: This patch will resolve several issues involving the MVFS (ClearCase file system.) Backout: Remove the patch Contact(s): Troy Beyer 713.345.8316 713.406.1782 SITARA: No Scheduled Outages. SUN/OSS SYSTEM: No Scheduled Outages. TELEPHONY: No Scheduled Outages TERMINAL SERVER: No Scheduled Outages. UNIFY: No Scheduled Outages. ------------------------------------------------------------------------------ ----------------------------------------------- FOR ASSISTANCE (713) 853-1411 Enron Resolution Center Specific Help: Information Risk Management (713) 853-5536 SAP/ISC (713) 345-4727 Unify On-Call (713) 284-3757 [Pager] Sitara On-Call (713) 288-0101 [Pager] RUS/GOPS/GeoTools/APRS (713) 639-9726 [Pager] OSS/UA4/TARP (713) 285-3165 [Pager] CPR (713) 284-4175 [Pager] EDI Support (713) 327-3893 [Pager] EES Help Desk (713)853-9797 OR (888)853-9797
AWADmail Issue 66 February 3, 2002 A Weekly Compendium of Feedback on the Words in A.Word.A.Day and Other Interesting Tidbits about Words and Languages -------------------------------- From: Anu Garg (anu@wordsmith.org) Subject: Linguaphiles cross half-million mark Last week the number of wordlovers on AWAD list reached 500,000. Thanks to all of you for making this the world's largest and most enjoyable community of wordlovers. You can share it with others by sending a gift subscription: http://wordsmith.org/awad/gift.html You can see the distribution of addresses by countries with their flags at: http://wordsmith.org/awad/stats.html (it's a large document). The latest edition of AWADnews is available at: http://wordsmith.org/awad/awadnews.html -------------------------------- From: Wordsmith Sponsor (sponsor@wordsmith.org) Subject: Sponsor of this AWADmail issue: Robert J. Thieblot Advertisement: Can gods be mortal? Read the memoirs of an immortal god, TELEMACHUS by Robert J. Thieblot: http://amazon.com/exec/obidos/ASIN/0965946509/httpwwwwordorgst/ -------------------------------- From: Hendrika Vande Kemp, Ph.D. (hendrika@earthlink.net) Subject: Regarding the word ethology Refer: http://wordsmith.org/words/ethology.html I forwarded today's word to a list of historians of psychology, who all want you to know that there was an earlier, 19th century version of ethology: In his 1843 SYSTEM OF LOGIC, J.S. Mill proposed the development of a new science he also called "ethology," whose purpose would be the explanation of individual and national differences in character, on the basis of associationistic psychology. Needless to say, the French sense of the term has prevailed. -Raymond E. Fancher Editor, Journal of the History of the Behavioral Sciences Professor of Psychology York University -------------------------------- From: Helen Ferrara (hferrara@aol.com) Subject: Re: Enronomics Refer: http://wordsmith.org/words/esemplastic.html In regard to your comments about Enron and "enronomics" to describe their method of economics and accounting, I believe that before long the idea of "going enron" will be used to describe other such unfortunate failures. -------------------------------- From: Thomas Shunk (tshunk@bakerlaw.com) Subject: Re: A.Word.A.Day--ultramontane Refer: http://wordsmith.org/words/ultramontane.html Your commentary relating to 'ultramontane' include a reminiscence of your days in Cleveland, which you remember as being located on the "North Shore." While there might be some Clevelanders who mistakenly use this phrase, the much more common Cleveland expression is that we live on the "North Coast," which is accurate, even from the point of view of our Canadian neighbors. A brief check of the Cleveland White Pages shows 23 entries for "North Shore etc." businesses, but roughly five times that number of entries for "North Coast etc." businesses, from "North Coast Abrasives, Inc." to "North Coast Wood Products." -------------------------------- From: Richard Rosen (rdrosen49@yahoo.com) Subject: a small correction Refer: http://wordsmith.org/words/psychobabble.html I was delighted to see my coinage "psychobabble" as word of the day--thank you--but would like to correct one small error. My book Psychobabble was published in 1977 (Atheneum), not 1997. -------------------------------- From: Sharon Streeter (diomo1@msn.com) Subject: Re: A.Word.A.Day--opsimath Refer: http://wordsmith.org/words/opsimath.html At 58 I'm learning the cello. "Opsimath" inspired a poem. Thanks! Opsimath She plucked the open D-string on her cello, Felt of its vibration, followed fading tremor As it rose, expanded, filled the room, and then, Evaporated. She, the aging opsimath, eager To explore the strings of steel, membranous Polished woods, the hollow core And all its possibilities, placed index finger Carefully and plucked again. D, clear and pure. -------------------------------- From: Jeffrey Carpenter <jcfish57@yahoo.com> Subject: Re: A.Word.A.Day--hangdog Refer: http://wordsmith.org/words/hangdog.html Re: "hangdog" No doubt that the delinquent canines would be given the ultimate penalty---wasn't it Salem or another community caught up in witch fever that executed several dogs along with the humans? And the 18th century Brits, who would hang petty thieves (read _The Fatal Shore_) would probably include the thieves' best friends as accomplices. I associate the word with the sentiment expressed by the public who gathered at such executions, those who stay "until the last dog is hanged," whether sea-dog pirate, highwayman, Fagin, or starving pilferer, all of whom hadn't a dog's chance in the courtroom. -------------------------------- From: Raymond McGrath (rmcgrath@pacbell.net) Subject: Oblique Sports reference Refer: http://wordsmith.org/words/sticky_wicket.html Here's an oblique sports reference culled from an old music review: "The X Symphony played Brahms last night. Brahms lost." -------------------------------- From: Eric Shackle (eshackle@ozemail.com.au) Subject: Re: A.Word.A.Day--cruciverbalist Refer: http://wordsmith.org/words/cruciverbalist.html Cruciverbalists may like to read about the world's first crossword; others may prefer The President's Pretzel Problem. Both stories are in the February edition of my e-book http://bdb.co.za/shackle/ebook.htm . -------------------------------- From: Wordsmith Sponsor (sponsor@wordsmith.org) Subject: Sponsor of this AWADmail issue: Zeus Systems Advertisement: Zeus Systems provides compelling content and related services for K-12 math and science and helps clients become more competitive by helping them realize significant cost savings, quick scalability and improving time to market. http://www.zeuslearning.com ............................................................................ High is our calling, Friend! Creative Art (Whether the instrument of words she use, Or pencil pregnant with ethereal hues, Demands the service of a mind and heart. -William Wordsworth, poet (1770-1850) Send your comments to anu@wordsmith.org. To subscribe or unsubscribe A.Word.A.Day, send a message to wsmith@wordsmith.org with Subject line as "subscribe <Your Name>" or "unsubscribe". Archives, FAQ, gift subscription form, and more at: http://wordsmith.org/awad/
Return-Path: <vkamins@ect.enron.com> Received: from rly-yg01.mx.aol.com (rly-yg01.mail.aol.com [172.18.147.1]) by air-yg05.mail.aol.com (v67_b1.21) with ESMTP; Fri, 28 Jan 2000 18:00:52 -0500 Received: from mailman.enron.com (mailman.enron.com [192.152.140.66]) by rly-yg01.mx.aol.com (v67_b1.21) with ESMTP; Fri, 28 Jan 2000 18:00:36 -0500 Received: from dserv1.ect.enron.com (dserv1.ect.enron.com [172.16.1.37]) by mailman.enron.com (8.8.8/8.8.8/corp-1.03) with ESMTP id XAA19726 for <vkaminski@aol.com>; Fri, 28 Jan 2000 23:00:07 GMT Received: from notes.ect.enron.com (notes.ect.enron.com [172.16.4.33]) by dserv1.ect.enron.com (8.8.8/8.8.8) with SMTP id RAA24406 for <vkaminski@aol.com>; Fri, 28 Jan 2000 17:00:32 -0600 (CST) Received: by notes.ect.enron.com(Lotus SMTP MTA v4.6.5 (863.2 5-20-1999)) id 86256874.007E6242 ; Fri, 28 Jan 2000 17:00:26 -0600 X-Lotus-FromDomain: ECT From: "Vince J Kaminski" <vkamins@ect.enron.com> To: vkaminski@aol.com Message-ID: <86256874.007E61A1.00@notes.ect.enron.com> Date: Fri, 28 Jan 2000 17:00:29 -0600 Subject: Re: Mark-to-Market Mime-Version: 1.0 Content-type: text/plain; charset=us-ascii Content-Disposition: inline Content-Transfer-Encoding: 7bit ---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/28/2000 05:00 PM --------------------------- From: Wade Cline@ENRON_DEVELOPMENT on 01/28/2000 07:17 AM ZE5B To: Pinnamaneni Krishnarao/HOU/ECT@ECT cc: Sandeep Kohli/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Vince J Kaminski/HOU/ECT@ECT Subject: Re: Mark-to-Market (Document link: Vince J Kaminski) Sandeep, Can DPC sell to MSEB and have EIPL buy an equivalent amount of power from MSEB at another spot on their grid, and then EIPL sell to the 3rd party state? Pinnamaneni Krishnarao@ECT 01/27/2000 04:00 PM To: Sandeep Kohli/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Vince J Kaminski/HOU/ECT@ECT, Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Re: Mark-to-Market (Document link: Wade Cline) Sandeep: I met with Bob today and discussed the deal structure we put together. On the mark-to-market issue, Bob and his colleague Wess told me that as long as payments are tied to one particular plant, we cannot m-t-m them. They had same problem with plants here in the US (like the peaking plants) and they had to separate the plant from power sales to be able to m-t-m the assocated cashflows. What they did is: they sold power from the plant to an outside party and bought it back from them at completely different (multiple) locations. The buyback is not tied to any specific plant and is marked to maket. Even if Enron can somehow mark-to-market a deal with DPC, it can do so for only 50% of the cashflows because only 50% of DPC is owned by outsiders. And a simple loan to an affiliate cannot also be marked to market. Bob was suggesting that if EIPL buys options from DPC and from some other plants and in turn sells power to AP or Karnataka then we could have a case for m-t-m. Politically DPC selling power to EIPL may not be the best solution, to put it rather mildly! Our alternatives, as I see them, are 1. Do the deal as we structured it. The only difference is that Enron doesn't mark it to market and income is earned only in 2002-03. 2. Do the deal as we structured it. EIPL/Enron then sells the contract to another party at a profit. The problem, of course, is finding this party and forking part of the profit to them. 3. Same deal, except revenue securitization is done through an outside party in India (not EIPL). Bob said he will think about the issues some more this week. Let me know when you will be here next week so we can meet with Bob together. I will be going to Boston for Tuesday and/or Wednesday (Feb.1-2). I can book an appt. with Bob for us. Sandeep Kohli@ENRON_DEVELOPMENT 01/23/2000 09:45 PM To: Robert Butts, Pinnamaneni Krishnarao@ECT cc: Vince Kaminski, Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ananda Mukerji, Jaiprakash Desai/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Mark-to-Market Bob, I wanted to continue the analysis on mark-to-market that I had spoken to you about on the phone. I thought that it was getting very difficult explaining the whole transaction by phone, so I am having Krishnarao who is in Vince's group explain the transaction to you. Krishna has been helping us structure the deal here in India, and he has just returned to Houston from India after working with the team here. He will seek an appointment with you to explain the transaction. I would like you to please spend some time with him, and then based on the discussion please send us a note detailing how sucha a transaction would be marked to market. Please cosider the fact that currently there are no such transactions from the Indian side. This is a very important transaction for us, and we may need to repeat this in coming months, hence setting up the system to account for these maybe well worth it. Also, what I am concerned about is that there will be an Enron India (EIPL) account in India based on Indian GAAP, and upon consolidation there will be a US GAAP accounting in the US. It is here that we would like to have mark-to-market accounting. EIPL is structured through Mauritius, and then Caymen Islands. Another key question to consider is that when we m-t-m the transaction in the US there will be a tax accruing in the year of m-t-m (say 2000). However, in India, as a result of the accrual accounting, there will not be any income showing till the year 2002 or 2003. We will need to know how that would get treated, and whether there is a way to get credit for the tax payable in the US. I am also confused about whether US tax would be levied, since none of the income is being brought back into the US (remains overseas - subpart-F and other concerns). Finally, we have been working hard in structuring a fixed price contract and getting a fixed for floating swap in the US (this is still not allowed to Indian Corporates). I need you to think about this too, and see if some type of accounting will solve this issue. Krishna knows what I am talking about, and will brief you on the same. Krishna - Please walk Bob through the three structures we had worked here. Look forward to your help and comments. This is going to be an exciting project for us all. Regards, Sandeep.
The Intratex disclosure looks fine. Check with Rex Rogers about what he wants to do about disclosing California litigation risk. Gary Peng/ENRON@enronXgate 04/26/2001 10:04 AM To: Charles Cheek/ENRON@enronXgate, Robert Eickenroht/ENRON@enronXgate, Richard B Sanders/HOU/ECT@ECT cc: Rex Rogers/ENRON@enronXgate Subject: Litigation Disclosure Find below the Litigation and Other Contingencies footnote from the the December 31, 2000 Annual Report. Please update the section of the disclosure for which you are responsible for inclusion in the first quarter 2001 Form 10Q . Also, please let me know if there are any new items that should be considered. Please respond no later than Wednesday May 2. Gary 3-6841 14 LITIGATION AND OTHER CONTINGENCIES Enron is a party to various claims and litigation, the significant items of which are discussed below. Although no assurances can be given, Enron believes, based on its experience to date and after considering appropriate reserves that have been established, that the ultimate resolution of such items, individually or in the aggregate, will not have a material adverse impact on Enron's financial position or results of operations. Litigation. In 1995, several parties (the Plaintiffs) filed suit in Harris County District Court in Houston, Texas, against Intratex Gas Company (Intratex), Houston Pipe Line Company and Panhandle Gas Company (collectively, the Enron Defendants), each of which is a wholly-owned subsidiary of Enron. The Plaintiffs were either sellers or royalty owners under numerous gas purchase contracts with Intratex, many of which have terminated. Early in 1996, the case was severed by the Court into two matters to be tried (or otherwise resolved) separately. In the first matter, the Plaintiffs alleged that the Enron Defendants committed fraud and negligent misrepresentation in connection with the "Panhandle program," a special marketing program established in the early 1980s. This case was tried in October 1996 and resulted in a verdict for the Enron Defendants. In the second matter, the Plaintiffs allege that the Enron Defendants violated state regulatory requirements and certain gas purchase contracts by failing to take the Plaintiffs' gas ratably with other producers' gas at certain times between 1978 and 1988. The trial court certified a class action with respect to ratability claims. On March 9, 2000, the Texas Supreme Court ruled that the trial court's class certification was improper and remanded the case to the trial court. The Enron Defendants deny the Plaintiffs' claims and have asserted various affirmative defenses, including the statute of limitations. The Enron Defendants believe that they have strong legal and factual defenses, and intend to vigorously contest the claims. Although no assurances can be given, Enron believes that the ultimate resolution of these matters will not have a material adverse effect on its financial position or results of operations. On November 21, 1996, an explosion occurred in or around the Humberto Vidal Building in San Juan, Puerto Rico. The explosion resulted in fatalities, bodily injuries and damage to the building and surrounding property. San Juan Gas Company, Inc. (San Juan Gas), an Enron affiliate, operated a propane/air distribution system in the vicinity, but did not provide service to the building. Enron, San Juan Gas, four affiliates and their insurance carriers were named as defendants, along with several third parties, including The Puerto Rico Aqueduct and Sewer Authority, Puerto Rico Telephone Company, Heath Consultants Incorporated, Humberto Vidal, Inc. and their insurance carriers, in numerous lawsuits filed in U.S. District Court for the District of Puerto Rico and the Superior Court of Puerto Rico. These suits seek damages for wrongful death, personal injury, business interruption and property damage allegedly caused by the explosion. After nearly four years without determining the cause of the explosion, all parties have agreed not to litigate further that issue, but to move these suits toward settlements or trials to determine whether each plaintiff was injured as a result of the explosion and, if so, the lawful damages attributable to such injury. The defendants have agreed on a fund for settlements or final awards. Numerous claims have been settled. Although no assurances can be given, Enron believes that the ultimate resolution of these matters will not have a material adverse effect on its financial position or results of operations. Trojan Investment Recovery. In early 1993, PGE ceased commercial operation of the Trojan nuclear power generating facility. The OPUC granted PGE, through a general rate order, recovery of, and a return on, 87 percent of its remaining investment in Trojan. The OPUC's general rate order related to Trojan has been subject to litigation in various state courts, including rulings by the Oregon Court of Appeals and petitions to the Oregon Supreme Court filed by parties opposed to the OPUC's order, including the Utility Reform Project(URP) and the Citizens Utility Board (CUB). In August 2000, PGE entered into agreements with CUB and the staff of the OPUC to settle the litigation related to PGE's recovery of its investment in the Trojan plant. Under the agreements, CUB agreed to withdraw from the litigation and to support the settlement as the means to resolve the Trojan litigation. The OPUC approved the accounting and ratemaking elements of the settlement on September 29, 2000. As a result of these approvals, PGE's investment in Trojan is no longer included in rates charged to customers, either through a return on or a return of that investment. Collection of ongoing decommissioning costs at Trojan is not affected by the settlement agreements or the September 29, 2000 OPUC order. With CUB's withdrawal, URP is the one remaining significant adverse party in the litigation. URP has indicated that it plans to continue to challenge the OPUC order allowing PGE recovery of its investment in Trojan. Enron cannot predict the outcome of these actions. Although no assurances can be given, Enron believes that the ultimate resolution of these matters will not have a material adverse effect on its financial position or results of operations. Environmental Matters. Enron is subject to extensive federal, state and local environmental laws and regulations. These laws and regulations require expenditures in connection with the construction of new facilities, the operation of existing facilities and for remediation at various operating sites. The implementation of the Clean Air Act Amendments is expected to result in increased operating expenses. These increased operating expenses are not expected to have a material impact on Enron's financial position or results of operations. Enron's natural gas pipeline companies conduct soil and groundwater remediation on a number of their facilities. Enron does not expect to incur material expenditures in connection with soil and groundwater remediation.
sounds good just let me know "K. Bass" <daphneco64@bigplanet.com> on 02/09/2001 12:40:21 PM Please respond to "K. Bass" <daphneco64@bigplanet.com> To: Eric.Bass@enron.com cc: Subject: Re: Re:Mandell I called and left a message for Huldy for a 2:30 appt. Dad and I are going to a movie so I won't be here for a few hours. I'll call and try for a 2:00 at Mandell. O.k. with you? LU-M ----- Original Message ----- From: <Eric.Bass@enron.com> To: "K. Bass" <daphneco64@bigplanet.com> Sent: Friday, February 09, 2001 10:05 AM Subject: Re: Re:Mandell > > we can hold off on seeing the w alabama house. just let me know about the > time for tomorrow > > e > > > > > "K. Bass" <daphneco64@bigplanet.com> on 02/09/2001 08:34:43 AM > > Please respond to "K. Bass" <daphneco64@bigplanet.com> > > To: Eric.Bass@enron.com > cc: > Subject: Re: Re:Mandell > > > Good deal. I think you'll like Bob but, like Dad said, don't feel > obligated. Don't forget to put the contracts in a folder/envelope and > bring > them along. How many copies did you make? I'll call the realtors and see > about tomorrow. Did you want to see 400 W. Alabama again? It's usually > open on Sunday. LU-M > ----- Original Message ----- > From: <Eric.Bass@enron.com> > To: "K. Bass" <daphneco64@bigplanet.com> > Sent: Friday, February 09, 2001 7:19 AM > Subject: Re: Re:Mandell > > > > > > Hey Mom, > > I would like to see the Mandell and the Huldy - preferably tomorrow > before > > 4ish. Let me know if that works for you. Dad is welcome to see > whichever > > houses he would like. > > > > FYI, I am meeting with Bob Dunn today after work, and I made copies of > the > > contracts. > > > > L, > > E > > > > > > > > > > "K. Bass" <daphneco64@bigplanet.com> on 02/09/2001 06:43:42 AM > > > > Please respond to "K. Bass" <daphneco64@bigplanet.com> > > > > To: Eric.Bass@enron.com > > cc: > > Subject: Re: Re:Mandell > > > > > > Hi Eric, > > > > Do you want me to check with the realtors to see if those houses are open > > this weekend and, if not, do you want me to make appts.? Let me know. > > I'll > > do that today. I would like Dad to see Mandell but that's up to you. He > > can't do it today, I don't think. But, if you would like to see > something > > today, I'll try to arrange it. I would prefer to see all of them the > same > > day but I will leave the up to you. I didn't want you to think that I > have > > forgotten about you. Did you download the contract and make copies? > LU-M > > ----- Original Message ----- > > From: <Eric.Bass@enron.com> > > To: "K. Bass" <daphneco64@bigplanet.com> > > Sent: Wednesday, February 07, 2001 2:45 PM > > Subject: Re: Re:Mandell > > > > > > > > > > no i haven't driven by yet. i would like to see the mandell house > again > > > before putting a contract in on it. > > > > > > -e > > > > > > > > > > > > > > > "K. Bass" <daphneco64@bigplanet.com> on 02/07/2001 02:45:35 PM > > > > > > Please respond to "K. Bass" <daphneco64@bigplanet.com> > > > > > > To: Eric.Bass@enron.com > > > cc: > > > Subject: Re: Re:Mandell > > > > > > > > > Did you drive by Huldy? If so, what did you think? > > > > > > We can do a contract whenever you want. Did you call B. Dunn? > > > > > > Talk to you later. Love, Mom > > > ----- Original Message ----- > > > From: <Eric.Bass@enron.com> > > > To: "K. Bass" <daphneco64@bigplanet.com> > > > Sent: Wednesday, February 07, 2001 11:11 AM > > > Subject: Re: Re:Mandell > > > > > > > > > > > > > > I am fine with seeing more houses before buying but was thinking that > > it > > > > might be a good idea to get the ball rolling on the Mandell house > (i.e. > > > low > > > > ball contract). This does not mean that I am wanting to buy right > away, > > > but > > > > more of testing the market and resolve of sellers. Let me know when > > you > > > > are available to see more houses. I am free whenever, except for > > > Saturday > > > > after around 4 pm. > > > > > > > > L, > > > > E > > > > > > > > > > > > > > > > > > > > > > > > "K. Bass" <daphneco64@bigplanet.com> on 02/07/2001 10:19:51 AM > > > > > > > > Please respond to "K. Bass" <daphneco64@bigplanet.com> > > > > > > > > To: Eric.Bass@enron.com > > > > cc: "Larry W. Bass" <lwbthemarine@bigplanet.com> > > > > Subject: Re: Re:Mandell > > > > > > > > > > > > It's been so long since we talked, I don't know what I'm supposed to > be > > > > doing. > > > > > > > > Just finished real estate school and learned a few things - well, my > > > memory > > > > was refreshed. Re: precertification for a loan. A non-committal > > > response > > > > from an online source does not mean that you are precertified. And, > > you > > > > must be real careful about all conditions relating to said loan. Dad > > > > thinks > > > > you should call Bob Dunn (call Dad for number.). Bob is in the > > mortgage > > > > business and is a good guy to have on your side. His office is near > > San > > > > Felipe and Voss. You should probably get this ball rolling so you > are > > > > ready, don't you think? > > > > > > > > I am busy today but let me know if you want to see anything Friday. > We > > > > could wait until the weekend to see what's open and make appts. for > > > > whatever > > > > else you want to see. I recommend that you see a few more before > > making > > > an > > > > offer but that is up to you. > > > > > > > > Let me know what I can do. LU-M > > > > ----- Original Message ----- > > > > From: <Eric.Bass@enron.com> > > > > To: <daphneco64@bigplanet.com> > > > > Sent: Wednesday, February 07, 2001 9:11 AM > > > > Subject: Re:Mandell > > > > > > > > > > > > > Any news? > > > > > > > > > > -e > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > >
CC list suppressed... The following letter shows the ongoing battle regarding what/whether there should be a fourth large RTO in the West? I've provided it as text below and as an attachment in Rich Text if you wish to have an easier read by opening it up. The document has been scanned for viruses. Dsg October 10, 2001 The Honorable Pat Wood, III, Chairman The Honorable William Massey, Commissioner The Honorable Linda Breathitt, Commissioner The Honorable Nora Brownell, Commissioner Federal Energy Regulatory Commission 888 First Street, N.E. Washington, D.C. 20426 Dear Commissioners: We are writing to express our strong reservations regarding the Federal Energy Regulatory Commission's (FERC) movement toward mandating four (West, Midwest, Northeast, Southeast) regional transmission organizations (RTOs). While we acknowledge that RTOs could, in theory, lead to a more efficient and well-functioning wholesale electricity market, we are concerned that FERC is promoting RTOs in the belief that they are inherently beneficial, with little regard for whether the operational details associated with the various RTOs will actually lead to lower costs or increased efficiency and reliability when applied in the real world. We don't believe RTOs are inherently good or bad. Whether the benefits of an RTO outweigh the costs depends on the details of a given proposal and the attributes of a given market. We are concerned that full consideration of those issues will be sacrificed under an artificial FERC deadline and a national perspective that disregards the specific features of the Pacific Northwest grid. As Members of Congress from the Northwest, we are particularly interested in, and have been following closely, the development of RTO West. We commend the inclusive stakeholder process that has brought together the RTO West filing utilities, urban and rural public utilities, industrial customers, Indian tribes, and other interested consumers to debate the details of RTO West. There is still a vigorous debate among the stakeholders in our region on issues such as pricing, congestion management, and how much authority RTO West should have to mandate construction, demand-side management or other measures to deal with reliability and congestion problems. While we each have our own opinions about what the result of this debate should be, we are united in the belief that it would be extremely unfortunate if the consensus-building Letter to FERC regarding RTOs October 10, 2001 process in our region was preempted by FERC action that would mandate a West-wide RTO or require that RTO West and WestConnect (formerly Desert Star) merge into a single organization. We would also oppose the FERC setting standardized national rules for RTOs on issues like pricing and congestion management. The Northwest needs the flexibility to do what is best for our region given the unique characteristics of our grid. We still expect the ongoing negotiations to resolve seams issues and similar operational concerns between the three RTOs under consideration in the Western United States will meet the requirements for an efficient wholesale market to function. Finally, we would respectfully request that the FERC mandate independent, cost-benefit analyses for each RTO. It is important for stakeholders and consumers to see a bottom line evaluation of the cost and benefits to end-use consumers in each affected state. This is especially true for ratepayers in the Northwest who are being subjected to rate increases of 20-40 percent or more and are dubious of any overhaul of how electricity is delivered if it could mean even further price hikes. Vigorous, independent cost-benefit studies must be done for all RTOs if they are to have any credibility. While the theoretical benefits of an RTO (like increased reliability and efficiency) may ultimately exist, those benefits may be outweighed by increased costs to consumers for generation or transmission service. This is particularly important for our region, which, due to the presence of the Bonneville Power Administration, has generally had a reliable, open-access transmission system even in the absence of an RTO. We are pleased that RTO West has commissioned an independent cost-benefit analysis, but it is still unclear whether the scope of the report will be satisfactory. Thank you, in advance, for your careful consideration of our concerns. We would appreciate an opportunity to meet with you to discuss these issues further and look forward to working with you to ensure a well-functioning wholesale market that doesn't adversely impact consumers. Sincerely, __________________ __________________ PETER DeFAZIO PATTY MURRAY Member of Congress United States Senator __________________ __________________ NORM DICKS MAX BAUCUS Member of Congress United States Senator Letter to FERC regarding RTOs October 10, 2001 __________________ __________________ JIM McDERMOTT LARRY CRAIG Member of Congress United States Senator __________________ __________________ JENNIFER DUNN RON WYDEN Member of Congress United States Senator ______________________ __________________ GEORGE NETHERCUTT MIKE CRAPO Member of Congress United States Senator ___________________ __________________ DOC HASTINGS MARIA CANTWELL Member of Congress Member of Congress ____________________ __________________ EARL BLUMENAUER DARLENE HOOLEY Member of Congress Member of Congress __________________ _________________ JAY INSLEE ADAM SMITH Member of Congress Member of Congress __________________ __________________ BRIAN BAIRD GREG WALDEN Member of Congress Member of Congress Letter to FERC regarding RTOs October 10, 2001 __________________ ___________________ MICHAEL SIMPSON C.L. "BUTCH" OTTER Member of Congress Member of Congress __________________ ___________________ RICK LARSEN CONRAD BURNS Member of Congress United States Senator __________________ DAVID WU Member of Congress