IN: Shari, I've got them shut down for power. They were one of the counterparty's on the initial approval lists. The online team tells me we are trading power with them off line, so what's the scoop? Can they trade power?

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OUT: Wisconsin Power & Light

IN: GADSDEN RESEARCH SERVICES' FERCwatch November 19, 2001 GRS' mobile phones are out of service temporarily -- service should be restored later this morning. Please forward all requests by e-mail to grs4ferc@starpower.net <mailto:grs4ferc@starpower.net> or fax to 202-318-4524 until further notice -- both will be checked frequently. We apologize for the inconvenience. Thank you.

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OUT: GRS/FERCwatch - Telephones

IN: The Fourth Quarter and Year 2001 Performance: The model portfolio has gained 12.78% during the fourth quarter versus a 10.42% gain for the S&P500. While the market has not delivered positive returns for the year, we are happy to point out that the Industry Selector is in positive territory as the year comes to an end. The year to date gain of 1.12% is leading the benchmark by 1407 basis points. Looking forward to the first quarter of 2002, our Industry Selector favors: Aerospace/Defense, Auto Parts & Equipment, Communication-Equip/Mfrs., Distributors, Electronics (Semiconductors), Electric Companies, Electrical Equipment, Equipment (Semiconductors), Financial (Diversified), Foods, Footwear, Health Care (Drugs), Insurance Brokers, Insurance (Life/Health), Publishing (Newspapers), Retail Stores (Dept. ), Retail Stores (Drug). (full article attached) LJE www.lajollaeconomics.com

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OUT: The Industry Selector*

IN: Gerald, I gave confusing instructions to Daphne for the last draft and it was not what I wanted. Attached is a clean draft with the edits I suggest. Bill - GulfExpediteLetter2clean version2.doc

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OUT:
Another Draft