IN: This is an email
Before the day gets away from me, I wanted to once again tell you how much I truly appreciate you and your dedication to our company, shareholders and employees. You did an outstanding job today. You caused tears in my eyes during the last employee meeting and today when you shared your heartbreak related to what we are now going through my heart again went out to you. There is so much I could say, but I think to sum up how I feel is simply to state again that I appreciate you and value your integrity, commitment and honesty. I know there is probably so much you wanted to say, but for sound business reasons simply can not share today. To be honest, I did walk away not fully motivated for the next struggle. It is not a lack of trust, confidence or commitment, but it is simply a natural human response to another blow to our reputation that simply takes time to fully absorb and then move on in a postive and productive manner. You and all of Enron are in my prayers and I know that God will continue to keep his hand on you (and us) and guide us all through yet another personal growth opportunity. Respectfully Cynthia Barrow Sr. Director of Benefits.

What is the subject?

OUT: thank you
QUESTION: All: It appears that this is the group which can best address the (derivatives) issues which may arise when Enron Corp. attempts to enter into equity swaps/options/forwards based upon Enron Corp. stock. We have all undertaken to provide the group with the following items: (1) "Procedures for Executing/Documenting/Unwinding Enron Corp. Equity Derivatives" Clint has already circulated a draft proposal. Comments are invited. (2) The transacting party: ENA (with an Enron Corp. guaranty) or Enron Corp.? Rex has no preference and credit's initial response was to consolidate trading in ENA. I will revisit this issue with Bill Bradford. (3) Enron Corp. equity trading resolution Rex and Jim will handle the drafting and logistics. This will be necessary if Enron Corp. is the trading party because the counterparty will want to review (and equity trading requires authorization) AND also necessary if ENA is the trading party because equity trading requires authorization. (4) Standard form of Registration Rights Agreement Rex and Jim will handle the drafting. This can be used as our "form" for future transactions. (5) Enron Corp. "position paper" addressing equity derivative parameters, preferable methods of settlement, registration rights, etc. I have no volunteers. Maybe Bob Baird needs an assignment. As you know, there are several outstanding confirms which require immediate attention before the foregoing items can be finalized. Please let me know if we can establish a timetable for completion of this project. Thanks for your help. Sara
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ANS: Equity Derivatives on ENE stock
Jeff - - - Let me add to my best wishes for you and Rebecca that I conveyed the other night at Vallone's, my sincere hopes that the next post Enron-CEO phase of your life brings you personal happiness, fulfillment, fun and contentment. Although we often had different perspectives, my one-on-one sessions trying to get deals past you, while few in number, were some of the most stimulating and challenging I experienced here. I regret we never worked closely together - - you're the only really smart guy I've been unable to convince of/ demonstrate my value to in my working life. I think Ken Rice owes me for pissing you off and getting deselected to head the new US electricity efforts in '93! On a more somber note, I admired you for going over to Teeside last week to face the families. I can still remember vividly the faces, the destruction, the emotions in the hours after the San Juan Gas explosion in 1996. It was hard for awhile to get motivated to press ahead with the power/LNG project in the face of that tragedy and the distant thought that, gee, I'll be responsible for bringing the new facility to this island. Am I sure it won't kill people? If there was a catalyst or "straw" that tipped you across the line in asking how hard you're willing to fight just to keep doing the CEO job, instead of every other direction you could take your life, it wouldn't surprise me if the experience at Teeside was it. One changes, even if only subtly, after that kind of experience. Thanks for treating me civilly even when you were the most angry with the rest of EI. Good luck with your new marriage and the next phase of your life.
Q: What is a potential subject line for this email?
answer: Best Wishes
Attached is a summary of PG&E's notes on how they calculate the PX Credit (until January 19, 2001 when they hardwired $150/mwh). We continue to try and get a handle on how the FERC Refund case will impact the PX Credit and Negative CTC. If anyone has any issues or comments, please let me know. Thanks.
Answer: PG&E PX Credit Calculation
Here is an email: Crystal confirmed that items coded as a demand charge on physical forward deals in the "External Column" do not show up in our P&L. Example: See deal 113266, sale to Reliant. I was concerned that we would double dip the reimbursements for transport demand charges if I show reimbursements on the transport sheet and we include the reimbursements on the Physical Forward sale as well.
What is a potential subject line for this email?
A: Demand charge
QUESTION: I got your message and understand you can't get all of us and Steve Harris in a meeting before Friday. Lets do it this way: I'll call Maria and MKM tomorrow am to discuss what we have learned so far and I'll grab Steve separately to update him. No need for all of us in one meeting. Thanks for trying. df
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ANS:
TW Neg. Rates