In order to ensure that our communications with the investment community are consistent, Stephen Moore of Moody's and I have agreed to publicly state the following as it pertains to the Moody's rating action taken today: Full Review To Occur - The action is intended to be the catalyst for a full review of our business operations to occur in the coming months. The company's appropriate rating will be determined during this time frame; Primary Areas of Concern - Moody's will be focusing on the following items during the review: Potential Future Equity Write downs: Dhabol California Broadband Fiber Network Wessex/Azurix Slow Progress in Asset Sales - we have been discussing sales for the past 18 months with limited closings Material Working Capital/Margin Expansion - has resulting in negative cash flow from operations The Equity Adjustment - Moody's was unaware of the potential of an equity adjustment of this magnitude Please let me know if you would like to discuss any of the points in detail. Regards:
Answer: Moody's Basis for Placing Enron Securities on "Review for Downgrade"
Here is an email: Peter Richard Lewis suggested I contact you in order to obtain a copy of the Houston gas desk curve. We specifically want to understand how the curve escalates from around 2007 onwards as we are looking to rvise our back-end curve. Could you please provide a recent curve. Thanks
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A: Gas Curve
Q: David: Attached is an example of the "tainted swaption". I'd really like to focus on the dates (Trade, Effective, Exercise). Looking forward to call in the morning. Sara
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A: Kellogg
IN: Gentlemen, The ESA docs are being reviewed internally for financing and accounting issues. Thanks for turning the docs in such a timely manner. COA is on stand by, due to our need to focus on ESA and two new, identical contracts (remember, we have a lot of turbines!) The next two up are the ones previously destined for CAL ISO - I believe units 17 & 18. These units also have the dual fuel options included, so the base prices of each will be increased appropriately. We will pay 75% of the price prior to signing the facility agreement, and the January payment will be increased by 25% of the cost of the dual fuel option. The turbines will be assigned to two sister Delaware LLCS: CA Energy Development I, LLC and CA Energy Development II, LLC. Use Ben Jacoby at 1400 Smith, Houston, 77002 for notices and invoices for purposes of the draft. We don't have any of the specifics on the site conditions, so we will have to work with generics. We would like to have a draft yesterday, but seeing as that is impossible, please advise when you think it can be ready. Thanks again and again,

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OUT: Next to tee up
IN: This is an email
Where did he rank against other folks at the super saturday? I would argue that if he was in the top 30%, we should accomodate his need. regards

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OUT: ENA Associate Candidate Question
Only EOL market makers are allowed to use free loading brokers. Please do not use brokers for markets outside of your market making responsibility. I am going to have the back office decline to book all broker deals done by traders outside of their responsibility. Thanks,
Answer:
Brokers