IN: This is an email
Classmates, The reunion is rapidly approaching! I think we have been able to get ahold of just about everyone now, and it looks like there will be a very big turn-out ... thanks for taking the time to let us know your plans!! Also, special thanks to Constantine for doing a bang-up job on recruiting,

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OUT: Anderson '96 Reunion - 10 Days and Counting!
QUESTION: One of the most important credit tools available to help Enron Wholesale Se= rvices (EWS) manage counterparty credit risk is setoff rights. This is par= ticularly true as our trading business is expanding to include numerous com= modity lines, including gas, power, coal, steel, pulp and paper, each of wh= ich may be traded under different masters with a single counterparty. This= complexity is further increased as a result of EWS using multiple affiliat= ed entities to trade the various commodities. Absent express contractual s= etoff rights, EWS may be unable to setoff exposures under different master = contracts. =09A team of EWS lawyers has been working to assemble setoff language that = will substantially enhance EWS's credit position with counterparties with w= hom we trade multiple commodities. This setoff language, which is set fort= h below, must be in all EWS trading form contracts. Similarly, when negoti= ating on third party paper, we should request that this additional setoff l= anguage be added. MANDATORY SETOFF LANGUAGE FOR=20 EWS TRADING CONTRACTS =09(A) Upon the designation or deemed designation of an Early Termination D= ate, the Non-Defaulting Party ("X") may, at its option and in its discretio= n, setoff, against any amounts Owed to the Defaulting Party ("Y") by X or a= ny Affiliate of X under this Agreement or under any other agreement(s), ins= trument(s) or undertaking(s), any amounts Owed by Y to X or any of X's Affi= liates under this Agreement or under any other agreement(s), instrument(s) = or undertaking(s). The obligations of Y and X under this Agreement in resp= ect 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 not= ice 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"=
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ANS: Mandatory Setoff Language for Inclusion in all EWS Trading Contracts
Kay at this time MDEA has $292,544.40 that they owe us. We have approximately $360,000 that we have made in profit according to our P&L from Risk. At this time we are not doing any buying or selling for MDEA. We run the load forecast, determine the position and then we get a market price from WRI. We then call MDEA and inform them of the Market and their position. They then tell us to buy the power from WRI. We call WRI and they bill MDEA, not us. We then do the tag.
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answer: MDEA
This is the data that we will use to build our Socal growth estimates. Take a look at the file and then we can discuss how to combine this with current pipeline capacity and future expansions. Mike
Answer: New Generation as of Oct 24th
Here is an email: During the March 7 meeting we reviewed the 'Proposed Accounting Timeline', which is part of the Project Update dated March 7, 2002. The proposed timeline at the bottom of the page shows that 'Imbalance Trading Ends' on the 16th calendar day of the month. GISB Standard 2.3.41 states that imbalance trading should be allowed through at least the 17th business day of the month. The language of the standard is as follows: "Standard 2.3.41 -- Transportation Service Providers should provide the ability to post and trade imbalances until at least the close of the seventeenth business day of the month."
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A: RRS - Proposed Accounting Timeline
QUESTION: Greg, Listed below is a brief outline of some of the key items that I turned over= =20 to McMahon. I didn't attempt to put down anything but a reference point bu= t=20 he has the files and we went through every point. We didn't spend a lot of= =20 time on the international activities because a great deal of it might not b= e=20 part of the group after project Summer. He attended my (his) Monday staff= =20 meeting and he got a flavor of the group and what everyone does. This is= =20 going to be primarily Philippe's meeting now but he is going to attend to= =20 provide needed commercial balance and if he does, I believe that is all the= =20 time he has to spend on that side of the business. I hope you are having a successful trip. Mike Outstanding and Priority Items International/other business unit activities ? Japan ? Korea ? S America ? Europe ? Calme ? EE&CC ? GPG ? India ? EES Staff Meetings ? Monday lunch ? Video calls - Tuesdays: Sao Paulo =01) 9:30, London =01) 10:00, Aust. = =01) 5:00 i2 ? Paveto/Wasaff HR ? Recruiting ? Robert Jones ? Compensation issues Investments ? Fitz/Sommer/Horn Infrastructure ? Windows 2000 ? Lotus notes/exchange ? Other projects Speaking commitments ? Aug 10th =01)A/A program ? Sept 21st =01) Economist =01) Laguna, CA ? Sept 26th =01) Rice Univ. ? Oct 3rd =01) Economist =01) Atlanta, GA Financial structure/accounting ? RCs and budgets ? Metrics/radar screens ? Shared resources Enron.com ? Paveto/Palmer Management/Strategic planning Project Summer IT project resource review PRC/reviews
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ANS:
Outstanding and priority items