postbot/aeslc_kw huggingface dataset:
Subject: California slide for BOD package

With the Dynegy announcement on November 9th, the U.S Trustee's office removed Enron from the PG&E Official Unsecured Creditor's Committee.
Dynegy is already on the Committee.
Important hearings in the PG&E bankruptcy are scheduled for December.
These hearings should begin to vet the issue of preemption, or the ability of the federal bankruptcy court to preempt state law under the bankruptcy code, thus freezing out the CPUC from ruling on the transfer of PG&E's generating assets to FERC jurisdiction.
We continue settlement discussions PG & E.   Including offsets in our trading contracts, our net nominal exposure to PG&E is $511 million.
The claim is disputed primarily due to the pending FERC refund case.
In initial discussions, Enron offered a $85 million discount.
PG&E has countered with a $237 million discount, a $152 million gap.
We are meeting with the company in an attempt to narrow the difference.
Southern California Edison (SCE) has broken off settlement negotiations.
The are forwarding a position that the Direct Access customers should pay a share of the IOU's undercollection, even though many Direct Access customers were sourcing their power via ESP's at that time.
Enron Government Affairs believes that the CPUC is behind SCE's position.
This regulatory scheme would have Enron owing SCE money on a net basis.
The Power Exchange (PX) Bankruptcy continues.
Enron has taken a visible role on the PC Official Unsecured Creditors Committee.
A liquidating plan in the bankruptcy should be filed shortly.
Subject: For your review 359pm

Rick,  Slide 4 is the proposed new slide.
I also added slide 3 just for your review so that you can see what is normally in the bank presentations.
They asked us to keep each part of RAC to 2-3 bullet points, at most.
Please call me at x31946.
Thanks,
Subject: Securities Litigation

This will confirm the meeting for tomorrow morning (November 20, 2001) at 11:30 a.m. CST in Conference Room 50M03.
Lunch will be served at the meeting.
For those needing to call in to the meeting, the information is set out below.
Subject: Security vs Risk

Rick  One question we are often asked is how do security and risk relate?
Risk is the potential reduction in asset values from threats and vulnerabilities.
Security is an ability you possess to protect specific assets in specific way(s).
So the answer is:  Security is able to reduce risk in specific areas but without the full breadth of risk defined it is impossible to determine how significant security solutions are.
Stay Safe
Subject: I know this sounds crazy but...

... how about an LBO?
Certain high net worth executives sponsor the deal in conjunction with a major financial investor such as JPM/Chase or Citibank.
Force the share trust participants to go along and cut in all management and employees.
It gets the company out of the spotlight and might have some real attraction for deal starved investors... esp at this price level.
It could remotivate everyone and provide a way to recover some of the lost value that had accrued to the employees over the years.
Obviously, some stakeholders would do better that others but that's the way it goes sometimes.
Just a thought.
Hang in there.
Jim
Subject: BNP Paribas Master Netting Agreement

We are moving ahead with finalizing a Master Netting Agreement that will cover all physical and financial agreements between BNP Paribas and Enron, except for the exchange agreements pertaining to NYMEX and LME trading.
The agreements to be included under this arrangement are listed below.
The intent is to complete the agreement by close of business on Tuesday, November 27.
We have communicated this to Bart Schouest at BNP Paribas and to BNP Paribas' counsel in New York.
1.
ISDA Master Agreement dated effective as of  June 28, 1995 between Enron North America Corp., formerly Enron Capital & Trade Resources Corp., and BNP Paribas, formerly Banque Paribas (as the same may have been or may be amended, restated, supplemented of otherwise modified from time to time, and including all Transactions, schedules, annexes, and confirmations thereunder, collectively).
2.
Interest Rate and Currency Exchange Agreement dated effective as of January 16, 1992 between Enron Corp. and BNP Paribas, formerly Banque Paribas.
3.
ISDA Master Agreement dated effective as of  February 22, 2000 between Enron Capital & Trade Resources International Corp. and BNP Paribas.
4.
ISDA Master Agreement effective as of April 4, 2000 between Enron Credit Limited and BNP Paribas.
5.
General Terms & Conditions governing transactions executed between Enron Capital & Trade Resources Limited and BNP Paribas.
6.
General Terms & Conditions governing online transactions executed between Enron Capital & Trade Resources Limited and BNP Paribas for the Sale and Purchase for Flat UK Beach Trades.
Please address any questions or concerns to me ASAP.
Regards,
Subject: Weil Gotshal Meeting

The people from Weil Gotshal would like to talk to you about the Dynegy case on 1/25/02.
Are you available that date?
Let me know and I will arrange a time, so that we can sit in.
Subject: All the best

My Fellow Comrades:  Our time together has been fun so let's not let it end here.
I would be delighted to hear from each of you and regret not having enough time to contact everyone individually.
One last technical tip...
Export your contact file in a pst format..... and you can import it to your home Outlook effortlessly... call for details!
Subject: Thank you!!!

Mr. Buy,  I want to say, "Thank you" for everything you did for RAC.
I have enjoyed working for a great group.
I have learned a lot from everyone in RAC.
Please let me know if anyone needs help.
Thanks again,
Subject: Risk Management benchmarking survey

Based on recent discussions with several energy firms, there appears to be interest in conducting a survey which *	summarizes the current state of risk management best practices within the industry, and *	provides benchmark data addressing current levels of risk based performance for various energy related lines of business  To respond to this interest, we would like to conduct a survey which addresses these goals.
We have prepared a proposal which outlines our approach for conducting a survey, and provides samples of expected output.
I will be in touch sometime next week to discuss the proposal with you, and determine your interest in participating.
I look forward to speaking with you, and potentially working with you as a participant in this project.
<<Benchmark_Sales_Presentation_v2.ppt>>  Thank You
Subject: Extreme VaR

The Extreme VaR functionality is now operational on the RaC website.
The testing phase is completed, but ongoing calibration and fine-tuning will continue.
Extreme VaR represents a complement to Regular VaR, but concentrates on the Extreme Tail regions.
The default shown on the screen is at 99.7%.
It can easily be set up for any portfolio of interest and at a user-specified confidence level.
The following document summarizes the procedure to invoke it from your websites.
Let me know if you have any questions.
Naveen Andrews (58668).
Subject: Sale of India E&P --EOGIL

Rick,  as a followup to our conversation about a month ago I just want to summarize where we are on the sale of EOGIL and the steps we are taking for corporate approvals as we move toward closing.
We are currently anticipating project close on July 27th, but as with all things associated with India the date will probably slide some.
Here'e what we are planning to do for Corp approval.
1) Steve Harper is working with Brad Larson to get a RAC document completed along the lines of the package we prepared for the China sale last month.
This should be completed early next week and either your group or Steve will get it circulated for sign-offs.
2) We (Detmering/Sherrick) will review the project with Skilling/Lay prior to Rac sign-off.
Based on our last discussion, we will not need board approval for this sale since it is less than $500 million.
If this is not correct, let me know ASAP.
Otherwise, we will do the above and plan to close on July 27th.
Thanks
Subject: Possible Candidate

Hi Vince & Rick, attached is a resume of a friend of mine from when I worked in NYC.
This guys has MIT Aerospace background but has extensive trading and risk management experience--one of those with commercial and technical experience.
He is an excellent team player with great personality as far as working in stressed and dynamic environment goes.
He will do well at Enron.
I think he is ready to try Houston like I did as he is ready to raise a family.
Subject: [ASME-OMAE-Houston] ASME Dinner Meeting - Raising Russian Submarine  Kursk

REMINDER FOR DINNER MEETING ASME OCEAN,OFFSHORE,ARTIC ENGINEERING DIVISION  RASISING OF THE RUSSIAN SUBMARINE KURSK  Tuesday, January 29th at 6:30 PM Ramada Plaza Hotel 7611 Katy Freeway @ 610W 	 SPEAKER Frans van Seumeren President and CEO of Mammoet   Frans van Seumeren initiated, negotiated and concluded the Kursk  contract with the Russian Government for the operation to salvage the  Kursk.
He will describe the technical and operational aspects of the  recovery.
If you are interested in making a reservation contact:
Subject: Legal Risk Memo -- sale of Enron interest in UtiliQuest

Attached is the legal risk memo for the proposed sale by certain Enron entities of their interest in UtiliQuest LLC.
This transaction has been given a legal risk ranking of 2.0 (on a scale of 1.0 to 5.0, with 1.0 indicating minimal legal risk), primarily due to potential post-closing indemnification obligations.
The legal risks discussed in this memo were also set forth in the DASH; however, please note the following correction to the DASH:  while the Enron entities' pro rata share of the maximum potential liability under the seller indemnity is $20.7 million, Enron and the other sellers have joint and several liability for indemnification obligations which are capped at $30 million, and Enron will be liable for the entire $30 million if the non-Enron sellers cannot satisfy their pro rata share of the liability under the seller indemnity (note that Enron is not guaranteeing or backstopping the other sellers' share of this liability in any way; however, the purchaser may choose to hold Enron liable for the entire liability, and leave Enron to pursue the other sellers for their share).
Please contact me if you have any questions.
Subject: TNPC

Molly,  Attached is the spreadsheet that outlines TNPC's billing and receipt history.
There were a few invoices out over 30 days but the majority pay within 10 days after due date, some even before the due date.
Out of the $435k that is outstanding, there is an invoice for $234k that went to the gas desk (James Barker)  today for proof of delivery and volume issues.
This amount was not marked on the dispute log.
Another invoice for 91k is currently on the dispute log for an undertake penalty and has come to partial resolution.
The remaining $134k is a collection issue as collection calls to Chris Miceli have not indicated a dispute, but rather a confirmation to pay.
Due to the nature of this customer, CSC handles the collection of this customer internally.
Please let me know if you need any additional information.
Joni Fisher
Subject: Full-Time Associate Orientation - Happy Hour

On Monday August 6, about 75 new full-time Associates will be starting their careers at Enron.
Attached is a schedule of Orientation Topics, as well as an invitation to welcome these Associates at a Happy Hour Monday evening.
It would be great if you could stop by, even for just a few minutes, to welcome them to the company.
For your convenience, the Happy Hour is at Farrago, which is less than 6 blocks from the Enron Building.
Members of the Program regularly tell us that senior level interaction is an area that we can improve on, so your participation in events like this very important.
An RSVP is not required, but if you plan to attend, please let us know so we can prepare a name tag for you.
Feel free to extend this invitation to other senior members of your team.
As always, we appreciate your continued support of The Program.
Regards,
Subject: Liquidity Ratio Calculation and Definitions in Policy

Ben/David/Bill -  Please see the what we have for the following policy excerpts at the end of=  this message, and address the following:  1.=09Advisory Limit Setting - is it by the BOD or by the CEO?
Our presenta= tion says CEO, but also specifies the trigger as 3.0 for P50 and 1.5 for P9= 9.
If it's CEO level, we don't need to specify in the policy what the trig= ger limit is, as CEO can change.
If it's in the Policy itself, it's consid= ered a Board approved limit.=20 a.=09Let's decide - if CEO level, let's change to say "a certain multiple o= f..." instead of 3.0 and 1.5 b.=09If at Board level,  don't we need to specify a time horizon?
If not, w= hy bother to specify the trigger - if one's going to be at CEO discretion a= nd consequently not specified in the policy itself, why not all of it?
2.=09Definitions in 3.4 excerpt below - Rick Buy wants these definitions ha= rd coded and clearly defined in the policy  ?=09Future Available Cash -=20 ?=09Is this straight off a daily report from Accounting?
What does this # = represent and what do we want in the policy?
?=09which individual is going to provide this daily, and when?
=20 ?=09Borrowing Capacity -=20 ?=09I defined this by pulling terms straight from the slide in the Joint Au= dit/Finance Committee presentation - do you agree?
?=09who is going to calculate this daily and provide to RAC, and by when?
?=09Potential Future Cash Requirements - ?=09is this clear enough?
any specific collateral assumptions given contra= ctual cash posting optionality?
worst case assumption?
3.=09Does RAC really need to calculate this if GRMO is going to report it o= n the Executive Report Viewer, and the calculations are hard-coded above?
= Seems like we could implement a process by which the 3 pieces of informatio= n get fed to GRMO to calculate and report, like all the other market risk m= etrics.
Please call me in the morning so I can run through any required changes.
Regards,
Subject: Books

As per our discussion last week, Sally will get with you and review the closing of the books that occurs each night.
This is in reference to the issue of which of the approximately 1200 books get closed easily and which ones require some miracles.
The goal is to better understand the issues at the commodity and/or business unit level.
Thanks.
Subject: IPG Meeting Wednesday August 8th

Rick,  We have you scheduled to speak to IPG about Risk Management in EB4499 from 10:300 to 12:00 on Wednesday August 8th.
Attendee and Company information to follow.
Thank you,
Subject: Final 8/1/01 Lumber Notification

The attached memo contains an Enron Industrial Markets Lumber Trading 5 Day Cumulative loss notification for July 24, 2001.
The Office of the Chair for Enron Industrial Markets is responsible for signing the memo and returning it to Chris Abel, at 3155a, who will forward it to RAC to obtain their signature.
Thanks,
Subject: RAC Presentation for Bloomberg

Rick, Attached is the significantly scaled down version of the RAC presentation we anticipate using for the taped Bloomberg mid-year credit review.
Please let me know if you have any comments or other changes once you have had a chance to review.
As we discussed earlier, we do not yet know when the taping will be.
If it is after August 15th, we will plan on working with Bill Bradford and Dave Gorte on this.
Thanks.
Shirley
Subject: London Update

Rick, There are very few single issues that require urgent consultation with you, however there are lots of little things that you may want to be aware of: 	We had an FSA 'Traded Risk' 2-day audit the past two days.
The operations/risk group bore the brunt of the work but Michael Pitt and I spent some time with them as well and we did do some level of preparation.
Jonathon Marsh, our compliance guy, seeemed very pleased with the result.
You never get away clean, but I think that they were impressed with the effort as well as the Enron risk culture.
by the way, my opinion of both Jonathan Marsh and Paul Freeman, the new technology guy is quite high - they are both good guys who want to make positive changes and not afraid to say whats on their mind.
2 risk policy issues came up - one regarding credit trading and the other regarding the freight book wanting to lay off credit risk with the credit book.
these we are slated to discuss with you tomorrow.
There are 2 new bad credits in Metals - 1 related to McCook where two of the 3 companies in the group declared ch 11 - we are owed est.
$7.5MM 		the other co. is the one that has granted us a free gigantic option on tolling ally for power - the commercial team is attempting to work out a situation 		where we transfer the unsecured claims to the ch 11 entities to a first security package on the smelter in co 3.
The other bad deal is a lead company out ogf the NY office where they owe us $450K on financials and we owe them $1MM on physicals - we are working on netting the positions  There are a number of deals being worked on surrounding TPL ppa's in which the power positions would be taken on by Enron and we would get cash to either extinguish or re-mark the price (the purchases are way out of the money).
There are 3 in the negotiation process - each big - not at the decision or DASH stage.
we had a DASH signed off while I was away on ETOL for a gas turbine in which we get tolling in exchange for a capacity payment.
I assume you are up to speed on the tragedy at TPL yesterday.
Norway is looking at 2 large power prepays with municipal generators - low probability  we will be circulating a DASH on $2MM more into Thrace - turkish e&p and pipeline play - total exp =$7.25MM 	team worked extensively with Jim ledlow and Brad on the analysis.
deal looks fine on the surface - 46% iirr vs 35% capital price.
only real issue is 'do we want to sink more $ into Turkey in order to improve the chances of a good sale or do we just put progress on hold'  good news is that $1.5mm is coming from cash flow from the project.
We have in the works one of the few EES NA-type deals with Guiness at a single facility.
$9mm in capital.
in the markets, we do not seem to be doing particularly well of late - Norway is down, uk gas has gotten caught in a short squeeze, uk power has lost a little, metals is metals .... things are moving on the personell front as well: Rudi starts monday Mike Mumford (internal transfer from Enron Credit) start 9/3 Tracy comes in mid September Blair van Zant -Director credit starts on 9/30
Subject: Expense Reports Awaiting Your Approval

The following reports have been waiting for your approval for more than 4 days.
Please review.
Owner: Karen K Heathman Report Name: Brad Larson Days In Mgr.
Queue: 5
Subject: Remote Offices- Suggestions

Dan, in response to the following memo, can you discuss with Rick his ideas.
I would also like to go through a detailed description of each EES office, its people and functions to determine which should be eliminated and which should be modified.
Given the latest redeployments and terminations the field offices are a shadow of their previous stature either way.
This is consistent with our overall strategies but perhaps we want to accelerate.
If you could help set up the framework to discuss I would much appreciate.
Good job on handling the "5's".
Regards
Subject: Remote Offices- Suggestions

The doorstep audit is not yet complete as I'm having about 25 or so deals "tested" out of the Long Beach office.
We should know all final results within the next week or so.
Rick-your suggestions are generally on target as we have already begun the process for pulling each specific office's information together-ie: how many offices do we have, who are the specific people in them, what do they transact on (DSM, gas/power commodity, services mgmt., etc), and can we consolidate/minimize the number of offices we have.
For example, of the 87-ish offices that we currently have EES folks in, only 14 of those offices have individuals that transact gas or power deals in the EnronDirect sales group (ie:  customers below $10 million in energy spend) and there are @ 45 sales folks in these 14 offices.
The losses now expected out of the Long Beach office are MUCH lower than initial estimates.
If anyone would like to review, please call me directly.
We are already well underway in establishing new transaction process' for both gas and power deals.
Although we have already put in place and communicated these new procedures to each of the sales offices, we are putting together a "sales package" that will encompass each of the new procedures in detail, each of the new gas and power contracts and rules for use, and a new sales policy which will review in detail the responsibilities for each sales individual.
This policy will require signatures from the sales folks in order for them to continue working for EES in a sales transaction role.
We are also exploring an independent verification process whereby we would have someone from either Deal Capture or Deal Management actually contact the customer to confirm the transaction.
The "McDonald's Hamburger" analogy is quite appropriate here!
Just wanted to let everyone know what was already underway.
Subject: IPG visit

Rick, thanks for taking so much of your time to explain RAC to the IPG group.
You said all the right things and left them with exactly the impression we were shooting for.
We are now trying to finalize a term sheet so we will be working with your folks to get this transaction down the road.
If I can return the favor let me know.
Thanks again.
Subject: Final 8/10/01 EOL Crude Violations

Attached are the Enron Global Markets EOL Crude 24/7 Trading violation memos for  Net Open Position, Maturity Gap Risk and VAR for August 10, 2001.
The Office of the Chairman for Enron Global Markets is responsible for printing out hard copies of these memos, signing and returning the hard copies to Chris Abel at 3560f, who will forward them to RAC to obtain their signature.
Thank You
Subject: Subpoena From Senate Committee on Governmental Affairs You Received

As you may recall this Committee issued 30 subpoenas to Enron officers on January 11.
Mike Levy of Swidler Berlin has been retained by the Company to assist you in gathering and producing documents that are responsive to the subpoena.
Mike or someone from his firm will be contacting you this week.
Mike will be in touch with J.C. Nickens, who represents many of you in civil litigation and as SEC co-counsel, so they do not duplicate efforts.
In addition, the Company has formed a Task Force to respond to all requests for documents.
Dave Grant is the head of the Task Force.
Dave or someone from the Task Force may also contact you concerning the subpoenas.
Thank you for cooperating with these people.
Please do not hesitate to call me (5-2402) or Dave (3-1681) with any questions.
Thanks.
Subject: portrac

Rick,   Lynn recently demo'd portrac for all of us in Corp Development.
It is a fantastic tool.
It's been needed for forever - I've been pulling together an asset list for Andy and Jeff Donahue - and I know first hand how difficult it is to get the detail that your group has input into portrac.
Donahue also thinks it's a great tool.
Lynn is going to demo it for Andy sometime soon.
I'm working with Lynn and Dave Gorte's folks (Cindy Hudler) to create a livelink library of models, presentations, tax structures, etc.
(all the files a corp dev person needs when we actively work an asset for sale).
We hope to have a link on the portrac web page similar to the DASH and COMET links.
It's very encouraging to see how far your group has come in organizing our investment data - Cindy's got a 30GB file of all models.
It sure makes my supposed 6 - 9 month job easier!